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News Breaks
July 31, 2014
16:56 EDTBPZBPZ Resources provides operations update
For Q2, production from offshore Block Z-1 averaged approximately 5,134 barrels of oil per day, or bopd, gross, or 2,618 bopd net to BPZ. This compares to 2,792 bopd of gross production, or 1,424 bopd net to BPZ in 2Q13. Q3 to date gross production has averaged approximately 4,700 bopd, or 2,397 bopd net to BPZ, through July 30. This is lower than expected due to the loss of production from the A-18D while it is being sidetracked and two shut in wells that require intervention. During the month of June, these three oil wells produced a total of approximately 1,500 bopd gross or, 767 bopd net to BPZ. Production as of July 30 was approximately 5,000 bopd gross, or 2,550 net to BPZ. The new Albacora A-26D development well was completed on July 12 and the well has averaged gross production of 1,000 barrels of oil per day, or 531 bopd net to BPZ for the past fourteen days. The new CX15-7D development well was spud on July 29. The well has a targeted measured depth of 8,500 feet and is expected to be completed by October. Work on the Albacora A-18D ST well has begun and the well is therefore not producing. Testing on the initial three-well exploration program at Block XXIII continues and is expected to be completed by the end of September.
News For BPZ From The Last 14 Days
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November 28, 2014
09:57 EDTBPZBPZ Resources downgraded to Hold from Buy at Brean Capital
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