Serica Energy Plc (LON:SQZ) shares started Tuesday positively after the oiler told investors reassured over oil flows from the Erskine field in the North Sea.
Erskine, which had been offline for a number of months, was restarted at the end of August after a blockage in adjoining infrastructure was cleared and a phase of scheduled maintenance came to an end.
The company said production volumes – net to Serica - averaged a rate of 3,000 barrels of oil equivalent per day since the restart on August 29, and the peak rate seen so far was above 5,000 boepd.
Rates have fluctuated due to restrictions within a connecting pipeline system, it added.
Serica is now expecting net production in the range of 2,500 to 3,000 boepd for the remainder of 2016.
In London, Serica shares were up 0.75p, 5%, changing hands at 15.75p each.