United Oil & Gas PLC (AIM:UOG) said production at the ASD-2 well in the Abu Sennan licence, onshore Egypt is “significantly above” pre-drill expectations.
Production is at a gross initial rate of 2,100 barrels of oil per day and a rig has been mobilised to drill a second well in the 2022 program, the company said on Monday. The turnaround time between completion and production was six days, it added.
In addition, a fifth firm well has been added to this year’s drilling campaign after the completion of technical work, it said.
“The ASD-2 well is the eighth consecutive successful well at Abu Sennan since we acquired the licence in 2020,” said United chief executive officer Brian Larkin.
“The wells within Abu Sennan have an exceptionally short turnaround time between well completion and commencement of production.”