P/F Atlantic Petroleum today announces that during the month of December, Atlantic Petroleum produced a net total of 66,000 barrels of oil equivalents (boe) from the Chestnut, Ettrick and Blackbird fields in the North Sea.
Chestnut production was affected by adverse weather during the month. The average daily production was 2,129 boe per day net to the Company.
Total production in 2013 was 720,000 boe which is lower than the previously announced production guidance of 725,000 to 800,000 boe. The main issues relating to the lower production than anticipated were the Chestnut shut-down during November due to works carried out to repair one of the mooring lines and slightly later than anticipated first oil from the new Ettrick infill well.
Despite the lower than anticipated production EBITDAX for the year is expected to be in the previously announced guidance range of DKK 225MM – DKK 275MM.
Press Release, January 06, 2014