Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Oil & Gas

United Oil & Gas production increased in Q1

Output in the first three months of 2021 was slightly ahead of guidance boosted by a new pipeline and a new well.

United Oil & Gas PLC (LON:UOG) reported first quarter production averaged 2,520 barrels oil equivalent per day.

It comes in slightly above the guidance benchmark given for the first half of this year, which is pitched at 2,300 to 2,500 boepd.

READ: Cenkos ups target for United Oil & Gas

The company highlighted that it marks a 12% improvement versus the fourth quarter of 2020, with production growth driven by additional output being delivered through the ASH gas pipeline and recently the addition of the ASH-3 well.

ASH-3 came online in early March and has so far averaged more than 4,000 boepd gross, which gives United 880 boepd net.

United owns a 22% working interest in the project which is operated by Kuwait Energy.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK