Erin Energy Corp (ERINQ)

[eFinanceMarkets]

$ERN Erin Energy says planned new well offshore Nigeria should double output

Erin Energy (ERN -8.9%) says it is set to start drilling at the Oyo-9 well offshore Nigeria by the end of July, which it expects will double the company's production.

ERN says Oyo-9 is expected to increase field production by 6K-7K bbl/day of oil; coinciding with the completion of Oyo-9, ERN says it also will tie back in to its FPSO the Oyo-7 well which could add an additional 2K bbl/day.

ERN says rig contractor Pacific Drilling (PACD -1.3%) will be ready to mobilize the Pacific Bora drillship for use in the project.