United Oil & Gas says full year production will be in line with guidance

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United Oil & Gas PLC (AIM:UOG) said production averaged 2,022 barrels oil equivalent per day through the third quarter.


The Q3 production comprised 1,619 barrels of oil and 405 boepd of gas, the company noted.


Over the first nine months of 2021 production averaged 2,491 boepd, comprising 2,023 bopd and 468 boepd of gas.


United said it expects full-year production in the range of 2,100 and 2,3000 boepd, in line with prior guidance.


Last month, United told investors that it is well placed to capitalise on new opportunities emerging across the industry, supported by its producing assets in Egypt.


“During the first half of 2021 three successful wells were drilled on Abu Sennan and the company reached record working interest production,” chief executive Brian Larkin said in the company’s interim results statement.


United’s production comes via its 22% interest in the Kuwait Energy operated Abu Sennan licence in Egypt.

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