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KNOC has confirmed it will not put any more money on the table to try and complete its hostile £1.67 Bn (US $2.57 Bn) takeover of Dana Petroleum.
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Durango debut again
Published 22.02.2010 09:08:07 by John Bradbury
North Sea producer Bridge Resources said production has resumed at its UK Durango gas field after a shutdown due to replacement of equipment at a nearby host platform. US-based Bridge said Durango resumed production late Friday after the operator of the nearby Waveney gas platform replaced a production meter and carried out maintenance.
Bridge indicated that it had decided to shut-in Durango back on 2 July last year to recover gas reserves which were backed out during initial production which originally commenced back on 27 November 2008.
Backed out, or lost gas production amounted 0.7 Bcf, and the company has been paid for the lost production, amounting to US $2.0 million since the start of this year.
“By resuming the production, revenues will increase due to higher net gas volumes at higher prices and associated condensate production of 24 bbls/mmcf,” Bridge stated.
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