Proactive Investors - Run By Investors For Investors

Highlands Natural Resources says all eight new East Denver wells are now online

The project is expected to deliver "robust revenue streams" to the company
oil and gas operations
It has a 7.5% interest in the new wells

Highlands Natural Resources Plc (LON:HNR) has told investors that all eight new wells at the East Denver project are now online as production wells.

The company owns a 7.5% interest in East Denver and it expects it will now receive robust revenue streams from the wells throughout 2019.

READ: Highlands Natural set for new wells boost at East Denver

Last year at East Denver, Highlands received a US$58.5mln commitment from a US oil-and-gas-focused private equity group to support an expansion of up to 24 wells at the site.

According to HNR, the East Denver project has an NPV10 range for six wells of between US$23.3mln to US$30.1mln. An estimate for the full 24 wells sees this as an increase of between US$96.6mln to US$124.5mln.

 

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full HNR profile View Profile

Highlands Natural Resources PLC Timeline

Related Articles

oil
February 15 2019
ExxonMobil has made ten discoveries on the neighbouring Stabroek Block with an estimated 5bn barrels of oil
Uranium
March 26 2019
The large scale uranium project has the potential to support a long life mining operation, with near surface, high-grade deposits for very low operating costs
coal mine
April 01 2019
Lesedi is one of two projects Tlou has in Botswana and comprises five CBM prospecting licences

© 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