Bass Oil back to normal at Indonesian operations after January dip
Energy
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ASX-listed producer Bass Oil’s production climbed 24 per cent in February as “output returns to normal”.
“There was a dip in January. We had a couple of wells offline and we had restricted flow due to scale build-up,” managing director Tino Guglielmo told Stockhead.
“Most fields in Indonesia have challenges with scale and we’ve just got to stay on top of it and that’s all it was just a little bit of downtime for that.”
The occurrence of scale was restricting flow capacity from the Tangai-Sukananti field.
Following the removal of the scale, Bass produced 16,403 barrels of oil in February versus the 13,256 barrels produced in January.
Given February was a shorter month, Bass expects production in March to be at least 10 per cent higher at between 16,500 barrels and 17,500 barrels.
Mr Guglielmo says Bass should be able to maintain that level through to when drilling starts in September or October.
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Bass achieved an average realised oil price of $US59.82 ($76.85) per barrel. The price of oil is trading at over $US60 per barrel.
“I’m very happy with where the oil price is right now,” Mr Guglielmo said. “I’m looking for an average oil price between $US60 and $US65 throughout the year.”
Bass shares were unchanged at 0.4c at midday on Friday.
