Kalrez records stagnant oil production in Q3 2001
Thursday, November 1 2001 - 11:01 AM WIB
Australian listed oil firm Kalrez Energy Limited said Thursday in its quarterly report that oil production for July-September quarter the Bula Field was 47,461 barrels of oil, relatively unmoved from last quarter?s production of 47, 637 barrels of oil.
Kalrez said the Bula Field operated profitably during the quarter and would continue to do so. Production continues in line with projected decline forecasts.
The company shipped and sold 39,408 barrels of oil during the quarter at a price of US$22.73 per barrel resulting in revenue of US$895,744.
A further shipment of approximately 37,000 barrels of oil was shipped on Thursday with payment due in November 2001.
Kalrez is the operator and 100 percent participant in Bula production sharing contract, Maluku. (alex)