Cue Energy Resources [ASX: CUE] - Gas production development at Sampang PSC, Indonesia
Cue Energy Resources Limited (CUE) has announced that it has gradually increased gas production rate on its Wortel Field to pproximately 50 billion BTU per day (BBTU/D), since commencing on 31st January 2012. The balance of the gas production is from the Oyong Field. Combined they are currently producing the daily contract quantity of 90 BBTU/D to the power station at Grati. Cue’s share of production is 13.5 BBTU/D (approximately 12.6 million standard cubic feet per day) before production sharing with the Indonesian government.
Drilling of the Oyong-11 infill oil production well was completed in February and production from the well has been brought on-stream. The new production from Oyong-11 has increased current oil production from the field to over 3,000 barrels of oil per day. (Total oil and gas production equates to approximately 2,500 barrels of oil equivalent per day net to Cue before production sharing with the Indonesian government). The well is still cleaning up and production is being optimized.
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