Norway: Noreco Releases June Production Report

Norwegian Energy Company ASA  in June 2011 produced 8,125 barrels of oil equivalents (boe) per day. Net realized oil price was USD 104 per boe after adjustments for oil put options, inventory and NGL and gas prices.

Total production from the Siri area fields in June was about 9,600 boe/day (3,375 boe/day net to Noreco). Production was shut down for 12 days due to planned maintenance. Noreco’s equity production per field: Siri 900 boe/day, Nini East 1,500 boe/day, Nini 700 boe/day, Cecilie 275 boe/day.

Brage produced on average close to 25,000 boe/day (2,950 net) in June. Noreco in May entered an agreement to sell its share in the Brage field.

South Arne production was close to 22,000 boe/day (1,425 net).

Net production to Noreco from each of the Lulita and Enoch fields was 325 and 50 boe/day respectively.

Production volumes and prices are preliminary and subject to adjustments, including final allocations between fields, quality adjustments and prices.

Source: Noreco, July 5, 2011;

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