Ithaca Energy Inc.: Third Quarter 2011 Production

Ithaca Energy Inc. (TSXV:IAE) announced 2011 third quarter production, changes to production after the acquisition of the Cook field and in anticipation of first production from the Athena field.

As quoted in the press release:

During the third quarter of 2011 certain events and activities had an impact on the export production levels of the Company.

• In July, strong production was restored in the Jacky, J01 well. The production figures for Jacky do not represent a full quarter; Electrical Submersible Pump (“ESP”) support for the well was fully restored at the end of the first week in July

• In early August, the replacement of an ESP was successfully completed on well A21 at the Beatrice Alpha platform

• From September 23, Beatrice production was shut in for 7 days to allow maintenance of the produced water treatment system. Production is now re-instated and Jacky production was not restricted.

• The Company reports production from midday August 25 onwards for the Cook field following completion of the transaction with Hess Limited to acquire a 28.46% interest in the field. The Cook field produces approximately 1,900 boepd net to Ithaca on a daily basis. Production levels have been steady since reporting commenced although 4 days shut down were incurred due to repairs on board the Anasuria Floating Production Storage and Offtake (“FPSO”) vessel; this is reflected in the quarterly figure

 

• Currently, the Company’s daily export production rate is around 4,800 boepd net

Click here to read the Ithaca Energy Inc. (TSXV:IAE) press release