Proactive Investors - Run By Investors For Investors

Mosman's Texas operations flowing again after heavy rain abates

Mosman said it sold four tankers of oil from the Welch project and two from the Strawn project after the weather stabilised
Mosman's Texas operations flowing again after heavy rain abates
Heavy rain hit Mosman's operations at the Welch Permian Basin project and the Strawn project in Texas

Mosman Oil And Gas Limited (LON:MSMN) said its operations in Texas were back on track after adverse weather hit two of its projects.

Earlier this month, the AIM-quoted oiler said that operations at the Welch Permian Basin project and the Strawn project had been impacted by recent significant rainfall.

READ: Mosman eyes Stanley well optimisation for oil, Texas operations suffer heavy weather

Several wells had to be temporarily shut-in, and, certain regular repair works were delayed as a result of the weather. At the same time, due to impassable roads, some crude collections were delayed.

However, on Monday Mosman said the rain had abated and that it had recently sold four tankers of oil from the Welch Project and two from the Strawn project. It added that further sales were expected before the end of the month.

A number of the wells that were shut in are now producing again, Mosman said, adding that some wells still require minor repairs that will be remedied over the coming weeks.

"As stated, the effect will be a slightly lower average production rate,” said Mosman chairman John W Barr.

“There remain a small number of repairs to be completed at Welch, however the board maintains its belief in a focus on building production,” he added.

Shares in Mosman were 3.5% up at 0.44p in early afternoon trade.

View full MSMN profile View Profile

Mosman Oil And Gas Timeline

Related Articles

oil well in Alberta
November 15 2018
The company has cash-generating oil and gas operations with exploration upside.
Q&A, question and answer graphic
Thu
The company is focused on the prolific oil & gas producing Anadarko Basin in the US state of Oklahoma.
Offshore oil rig
October 02 2018
Plexus' partner Gusar clinched a supply agreement with the Russian energy giant in September

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use