Ophir talks up low cost assets as oil price bites

摘要

London-African-focused explorer Ophir Energy said Monday it remains confident that its low-cost producing assets will help it ride out the oil price downturn. The company also maintained its production forecast for 2016 at 10,500-11,500 boe/d and said last year’s output came in ahead of target at 13,000 boe/d due to lower than expected outages. “In Thailand, the activity to increase production on the Bualuang oilfield by increasing produced water disposal capacity through drilling, workovers and submersible pump replacement has been successfully completed ahead of schedule in late December 2015, resulting in an increase in daily oil production,” the statement said.