Production update June 2023
07 Juli 2023 - 2:00PM
Production update June 2023
Maha Energy AB (publ)
(“Maha” or the “Company”),
announces the preliminary
unaudited net production data
for June
2023.
Daily average production
(boe/day) in 2023 |
Assets |
Q1-23 |
Q2-23 |
Apr |
May |
Jun |
Peroá cluster* |
437 |
560 |
490 |
637 |
549 |
Papa Terra cluster* |
936 |
1,217 |
1,583 |
768 |
1,314 |
Illinois Basin |
233 |
211 |
217 |
214 |
202 |
Total |
1,606 |
1,988 |
2,291 |
1,619 |
2,065 |
* Note: The information included hereunder
relates only to Maha’s entitlement on Peroá and Papa Terra
clusters’ production, considering its indirect participation
interest on said assets. It was calculated based on the information
made public by 3R Petroleum. The production from Peroá and Papa
Terra clusters will not be consolidated in Maha’s financial
reporting.
Maha has an indirect working interest of 15% in
the Peroá cluster and 9.375% in the Papa Terra cluster, with 3R
Petroleum Offshore S.A. being the operator.
Maha is the operator holding 97% working
interest in the Illinois Basin. In addition, Maha is also the
operator of LAK Ranch in USA. The LAK Ranch heavy oil asset was
shut in 2020, but incidental oil is occasionally produced as a
result of testing and/ or maintenance activities. Maha is also the
operator of Block 70 in Oman with 65% working interest, where
production testing is currently being performed. Maha intends to
publish a separate press release with an update on the progress of
the production testing in Oman later in July.
Papa Terra
clusterThe production at the Papa Terra cluster
increased 71.2% from May to June. This result is due to the
resumption of production of Papa Terra Cluster after a temporary
interruption in May, as per previously indicated in material facts
disclosed by 3R Petroleum on May 16 and May 29, 2023.
Peroá
clusterThe production at the Peroá Cluster
decreased 13.7% from May to June. This result reflects the impact
of a scheduled shutdown at the Cacimbas Natural Gas Treatment Unit
(UTGC), which interrupted the receipt of gas produced at the asset
for a few days of the month. Illinois BasinThe
production at Illinois Basin decreased 6% in June compared to May
2023.
For more information, please
contact:Paulo Thiago Mendonça, CEO, Phone: +46 8 611 05
11, E-mail: info@mahaenergy.caGuilherme Guidolin de Campos, CFO,
Phone: +46 8 611 05 11, E-mail: info@mahaenergy.caJakob Sintring,
Head of IR, Phone: +46 8 611 05 11, info@mahaenergy.ca
MiscellaneousThe information
was submitted for publication, through the agency of the contact
persons set out above, 14:00 CEST on 7 July 2023.
About MahaMaha Energy AB (publ)
is a listed, international upstream oil and gas company whose
business activities include exploration, development and production
of crude oil and natural gas. The strategy is to target and develop
underperforming hydrocarbon assets on global basis. Maha operates
the Mafraq field in Block 70 in the Sultanate of Oman and assets in
the United States. The shares are listed on Nasdaq Stockholm
(MAHA-A). The head office is in Stockholm, Sweden with a technical
office in Calgary, Canada, as well as operations offices in
Grayville, Illinois, USA, Rio De Janeiro, Brazil and Muscat, Oman.
For more information, please visit our website
www.mahaenergy.ca.
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