Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

President Energy makes new discovery in Louisiana

11/09/2014 by

W1siziisijiwmtqvmtavmjgvmtuvmtuvmtmvnjcxl2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

President Energy has announced a new discovery well in Louisiana, USA.

The Eagle Crest well at the East Lake Verret project saw initial daily production rates of 492 barrels of oil and 2.3mln cubic feet of gas – which equates to 875 barrels oil equivalent (boe).

President’s participation in the well was ‘carried’. It benefits from a 12% interest in the project once the well achieves ‘pay-out’ and more immediately it sees a 3% royalty from the well.

The well is expected to reach the pay-out point by mid-2015.

While it does not have the sort of potential seen in the group’s recent shale discovery, it does add valuable cash-generative production at no cost.

Prior to the Eagle Crest discovery President’s stake in Louisiana based production amounted to 230 boe per day since April and as such has increased from the 200 barrels per day reported for the first quarter of the year.

In Argentina, the group’s other producing area, President is seeing production of 300 barrels of oil per day from the Puesto Guardian field – where the company now has full ownership.

Since taking over fully President now benefits from monthly positive cash flows of US$150,000 per month.

This article has been extracted from http://www.proactiveinvestors.co.uk/, please click on this link to read the article in full http://www.proactiveinvestors.co.uk/companies/news/72113/president-energys-makes-new-discovery-in-louisiana-72113.html

Montash is a multi-award winning, global technology recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmduvmdqvmtyvndavmzkvotg5l3nodxr0zxjzdg9ja181ndm0mduxmtuuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

7 Things About Your CV You Need To Fix Right ...

2017-05-04 18:00:00 +0100

As a global technology recruitment agency, we are in touch with candidates day in and day out. We've seen all kinds of CVs in our time and know a good one when we see it. As our recruitment team look to find the ideal candidate, they are looking for CVs that show how candidates can impact their clients in a positive way, not just look flashy on paper. You only have a small amount of space on your CV to show off your skills, so make every word count. Cut...

W1siziisijiwmtcvmdqvmjqvmtqvmzqvmzuvnjg3l3nodxr0zxjzdg9ja182mdq2otc5nziuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

What Does A Snap Election Mean For Recruitment?

2017-04-25 08:00:00 +0100

On Tuesday 18th April, Prime Minister Theresa May called a snap general election for 8th June, taking the nation by surprise. Rather than waiting until 2020, voters will now be casting their ballots in a matter of weeks. The hope for the government is that a Tory victory give the prime minister a strong mandate in parliament as Brexit negotiations begin. This sudden decision has been embraced by many in the recruitment industry due to the anticipated st...