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Mart Resources Inc.: operations update

Published by
World Pipelines,


Mart Resources Inc. and its co-venturers, Midwestern Oil and Gas Company Ltd and SunTrust Oil Company Ltd have provided the following updates on Umusadege field production for October 2015 and other operations.

October 2015 Aggregate Production Update

Umusadege field production during October 2015 averaged approximately 14 320 bpd resulting in total production of approximately 443 860 bbls for the month. Aggregate calculated Umusadege field downtime during October 2015 was approximately eight days. This was based upon days with production of more than 10 000 bpd being considered to have no downtime. There were shutdowns of the Trans Forcados pipeline and the NAOC export pipeline during October 2015 due to operational interruptions for general pipeline and facility maintenance, a shutdown due to a lack of storage capacity at the Forcados terminal, and repairs required due to vandalism, but ongoing production from the Umusadege field was managed by the ability of the field operator to alternate production between the Trans Forcados and NAOC export pipelines. There were no full down days during the month. The average field production based on producing days was approximately 20 070 bpd in October 2015.

The combined net delivery of oil from the Umusadege field through the Umugini pipeline and NAOC export pipeline totaled approximately 458 570 bbls in October 2015 before estimated pipeline and export facility losses, and approximately 404 540 bbls after deduction of combined pipeline and export facility losses estimated for October 2015 by Mart.

NAOC Export Pipeline Update

Total net crude oil deliveries into the NAOC export pipeline from the Umusadege field for October 2015 were approximately 109 590 bbls before pipeline losses. Based upon the 12-month rolling average rate of pipeline and export facility losses from December 2013 to November 2014 of 17.46%, Mart estimates NAOC export pipeline and Brass River export facility losses for October 2015 will be approximately 19 130 bbls. Accordingly, Mart estimates that the total net crude deliveries into the NAOC export pipeline from the Umusadege field for October 2015 less estimated pipeline losses will be approximately 90 460 bbls.

As previously announced, total net crude oil deliveries into the NAOC export pipeline from the Umusadege field for September 2015 were approximately 157,407 bbls. Actual NAOC pipeline and export facility losses have not been allocated for September 2015 because allocation was suspended beginning in December 2014 by the Department of Petroleum Resources pending an approved loss computation formula. Mart previously estimated pipeline and export facility losses for September 2015 to be approximately 27,480 bbls, based upon the 12-month rolling average rate of pipeline and export facility losses of 17.46% between December 2013 and November 2014.

The NAOC export pipeline was down for six days in October 2015 due to maintenance and repair work done on the pipeline.

Edited from press release by

Read the article online at: https://www.worldpipelines.com/business-news/26112015/mart-resources-inc-operations-and-october-2015-production-update-1697/

 

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