Leni Gas & Oil sees production drop but remains confident of future levels
17 November 2009
Oil and gas group Leni Gas & Oil today said that production during September from its assets totalled 12,034 barrels of oil equivalent, down from 16,103 barrels in August.
Production from the company's primary production assets was impacted by short term restrictions in Spain due to the Ayoluengo Oilfield experiencing a major increase in gas production, which temporarily limited liquids production.
In addition, restrictions were also seen in the Gulf of Mexico and Gulf Coast as a result of third party gas export line maintenance. Leni said both of these issues were being addressed and production levels should be restored in the near term.
David Lenigas, the company’s executive chairman, said: “In Spain, we are witnessing a major change in reservoir dynamics with a major increase in gas production. Although currently limiting oil production due to gas handling facilities at the Ayoluengo oilfield decommissioned by former owners, we are about to embark on a winter campaign to re-instate these facilities and boost oil and gas production from the field. This upgrade will also prepare the field for the next major increase in production from the 2010 capex perforation and drilling program.”
Looking ahead, Leni is forecasting October production to be similar to September with ongoing programmes in nearly all countries of operations.
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