Bayfield Energy, an upstream oil and gas exploration and production company, has completed well B3 on its Trintes field offshore Trinidad, bringing it on production at a stabilised rate of 536 barrels of oil per day (bopd).
The well confirms the production potential of the M Sand in the south-west part of the field where three further development wells are planned to be drilled this year, the firm said.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The latest reported production rate from the Trintes field has now increased to over 2,300 bopd.
The share price jumped 11.54% to 1.50p by 09:55.
NR
-
Car finance compensation: FCA warns drivers against using rip off claims firms for share of £18bnThe FCA estimates most eligible motorists will receive around £950 in compensation per agreement – and said they won’t need a claims management company or law firm to access a redress scheme
-
Small UK industrial stocks are hidden gemsOpinion Ed Wielechowski of the Odyssean Investment Trust highlights three of his favourite British small-cap industrial stocks
