Wednesday, January 29, 2020 8:42:55 PM
" ("Newport" or "the Company") is pleased to provide an update on production and drilling activities on licenses in the Cooper Basin, Australia over which the Company has a 2.5% gross overriding royalty ("GOR"). This information was reported by Beach Energy Ltd ("Beach") (ASX: BPT) in its FY2020 Second Quarter Activities Report dated 29th January, 2020.
Production
Beach report that their quarterly oil production from ex PEL 91 increased 16%, with ex PEL 91 reporting production of 1,556kboe, up from 1,337kboe in Q1.
Beach's Western Flank gas liquids production from ex PEL's 91/106 was 545kboe, 6% higher than the prior quarter as two high-liquids content Lowry wells were connected and facility reliability was maintained at greater than 99%.
Field work continues to support higher liquids production rates.
Drilling
Highlights of Beach's drilling program include a 100% success rate from nine oil development wells across the Bauer, Kalladeina and Chiton fields in ex PEL 91. The wells comprised three vertical and six horizontal wells, including a horizontal well with the longest lateral length drilled by Beach in the Western Flank to date at 1,629 metres. At quarter-end, one horizontal well was drilling ahead.
At the Bauer Field in ex PEL 91, the Bauer Northwest-2 and -3 appraisal wells were cased and suspended as future producers. The results from these wells indicate a northerly extension of the Bauer Field. Utilizing production data from the wells, the potential for future appraisal and development drilling will be evaluated.
At the Arno Field in ex PEL 91, the Arno appraisal drilling campaign was completed with the Arno-3 well also being cased and suspended as a future producer.
Oil Price
Beach report that the average realized price of oil for the Quarter increased 3% to AUD$105.9/bbl.
Guidance
The Company receives its gross overriding royalty from Beach, which is not a reporting issuer in Canada, therefore Newport is not able to confirm if the disclosure satisfies the requirements of NI 51-101 - Standards of Disclosure for Oil and Gas Activities, or other requirements of Canadian securities legislation.
The Company is unable to forecast potential productivity for each well and continues to strongly encourage shareholders and potential investors to access information released independently by Beach and Santos Ltd."
Recent NWX News
- BEACH ENERGY'S Q3 ACTIVITIES REPORT • PR Newswire (Canada) • 04/24/2024 11:50:00 PM
- NEWPORT RECEIVES AUD$1,368,519 (GROSS)/AUD$957,963 (NET) QUARTERLY ROYALTY PAYMENT • PR Newswire (Canada) • 03/05/2024 01:00:00 PM
- BEACH REPORT FIRST HALF FY24 RESULTS • PR Newswire (Canada) • 02/14/2024 01:00:00 PM
- NEWPORT ANNOUNCES FIRST QUARTERLY CASH DIVIDEND OF 2024 AND CHANGES TO ITS QUARTERLY DIVIDEND • PR Newswire (Canada) • 02/12/2024 01:00:00 PM
- BEACH ENERGY'S Q2 ACTIVITIES REPORT • PR Newswire (Canada) • 01/26/2024 01:00:00 PM
- NEWPORT RECEIVES AUD$1,503,903 (GROSS)/AUD$1,052,732 (NET) QUARTERLY ROYALTY PAYMENT. • PR Newswire (Canada) • 12/06/2023 01:00:00 PM
- NEWPORT ANNOUNCES FOURTH QUARTERLY CASH DIVIDEND of 2023 • PR Newswire (Canada) • 11/10/2023 01:00:00 PM
- BEACH ENERGY'S Q1 ACTIVITIES REPORT, 13% INCREASE IN RECEIVED OIL PRICES • PR Newswire (Canada) • 10/26/2023 06:38:00 PM
- NEWPORT ANNOUNCES SATURNA GROUP, CHARTERED PROFESSIONAL ACCOUNTANTS LLP, AS AUDITOR • PR Newswire (Canada) • 09/22/2023 09:14:00 PM
- NEWPORT RECEIVES AUD$1,279,749 (GROSS)/AUD$895,824 (NET) QUARTERLY ROYALTY PAYMENT • PR Newswire (Canada) • 09/01/2023 04:58:00 PM
- BEACH REPORT ANNUAL PRODUCTION RESULTS, UPDATED RESERVES, AND PROPOSED FY24 ACTIVITIES • PR Newswire (Canada) • 08/15/2023 06:01:00 PM
- TSX Venture Exchange Stock Maintenance Bulletins • PR Newswire (Canada) • 08/11/2023 12:08:00 AM
- NEWPORT ANNOUNCES THIRD QUARTERLY CASH DIVIDEND OF 2023 • PR Newswire (Canada) • 08/10/2023 12:00:00 PM
- WESTERN FLANK OIL PRODUCTION UP 21%, EIGHT WELLS BROUGHT ONLINE, SUCCESSFUL DRILLING ON EX PEL 91 • PR Newswire (Canada) • 07/27/2023 12:00:00 PM
- NEWPORT RECEIVES AUD$1,313,725 (GROSS)/AUD$919,608 (NET) QUARTERLY ROYALTY PAYMENT • PR Newswire (Canada) • 06/02/2023 12:00:00 PM
- TSX Venture Exchange Stock Maintenance Bulletins • PR Newswire (Canada) • 05/11/2023 04:07:00 AM
- NEWPORT ANNOUNCES SECOND QUARTERLY CASH DIVIDEND OF 2023 • PR Newswire (Canada) • 05/10/2023 12:00:00 PM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM