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.
The rig used on the well will now undertake a programme of workovers to replace pumps on six production wells on the Bravo platform. The company wants to achieve additional incremental production of 250-300 bopd and expects to increase the reliability of these wells by eliminating all dependence on ageing hydraulic powered oil pump systems.
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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.
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