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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • Golden Gate Petroleum Releases Oil Production Figures At U.S Projects 0 comments
    Jul 8, 2013 2:37 AM

    Golden Gate Petroleum (ASX:GGP) added 1,496 barrels of oil equivalent (BOE) in the two week period ended 30 June 2013, with its SRH-3 well in the Permian project boosting output to 329.4 BOE, compared with 255.8 BOE during the previous two week.

    Its total cumulative oil production from its all its projects including Permian, Bowtie West,and Napoleonville stood at 67,477.1 BOE.

    The SRH-3 and SRH-4 wells that have completed fracs across all intervals are performing close to their decline curve and are achieving similar performance to other nearby wells.

    The SRH-4 well was offline for 5 days to repair a hole in the tubing.

    The SRH-5 horizontal well has seen the gas lift system tested under different conditions, while the SRH-6 well has also been successfully completed and drilled. It is now shut in for completion and fracture stimulation program.

    Meanwhile, Golden Gate also started producing from the Napoleonville Hensarling-1 well, and production from this will be added to the next bi-weekly report.

    The company has 100% working interest in all the Permian project wells, while it holds 12% working interest in the Sugar Valley-1 well in the Bowtie West project and a 3.99% working interest in the Napoleonville project in Louisiana.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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