Bayfield Energy leaps after bringing well on production
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).
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.
Subscribe to 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
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Which UK region has the most in savings? Average savings by area
The amount people have in their savings differs from region to region in the UK. How does your nest egg compare to those living nearby?
-
Doug and Mary Perkins: Specsavers’ clear-sighted founders
Helped by the deregulation of the sector in the 1980s and brilliant advertising, Mary Perkins and her husband Doug have taken Specsavers to the top of the optometry market