Angus Energy PLC (AIM:ANGS) shares nudged higher in Wednesday’s early deals as the company flagged a new spud date for a side-track well, and said it has reached a new milestone in its production operations.
The onshore UK oil and gas company said that following a scheduled maintenance shutdown last week, hourly throughput rates through the process plant now exceed its target production rate for October of 6mln cubic feet per day.
At the same time, it added, condensate production has stabilised at or around 120 barrels per day and said that it will report monthly gas sales figures at the end of each quarter - as previously guided.
Side-track drilling. meanwhile, slides slightly, to October 24-26 from October 20 in order to accommodate a potential supply chain issue.
Planning for the programme meanwhile is “progressing apace”, the company added.