Mosman Oil and Gas Ltd (AIM:MSMN) has provided an update on its Stanley and Cinnabar projects in the US.
The Stanley-5 well has seen oil production restored to previous levels of approximately 30-45 barrels of oil per day (bopd) following a successful workover, the company said.
The well had previously been shut in since March 5.
Meanwhile, the Stanley-3 well, which was recompleted and placed back into production in April 2024, has seen its oil flow rate increase to over 100 bopd over the last five days, although its gas flow rates have declined since the recompletion, Mosman added.
Overall production from the Stanley project has increased, with the five-day gross average flow rates reaching about 150 bopd and 169 thousand cubic feet per day (mcfd), equating to an aggregate gross of approximately 180 barrels of oil equivalent per day (boepd).
The Cinnabar-1 (G3) well has also been recompleted, resulting in improved wellhead pressure. The well initially flowed oil and gas but has not yet established continuous flow, suggesting that artificial lift may be required to optimise production, the company noted.
"I am pleased that the continued work on the Stanley Project has again resulted in stronger production numbers,” Mosman chief executive Andy Carroll said in a statement.
Additionally, Mosman announced that a lawsuit had been filed on May 2 against Nadsoil LLC, its subsidiary that operates the Stanley project, by one of the joint venture parties for breach of contract.
Mosman and its legal advisers believe the lawsuit is without merit and plan to defend it rigorously.