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An update from Metgasco Ltd ( (AU:MEL) ) is now available.
Metgasco Ltd has reported interim results from its Production Uplift Program at the Odin and Vali gas fields, which have shown promising outcomes. The first phase of the program, which involved the removal of scale from wells and pipelines, has led to an increase in raw gas production from 2.5 MMscfd to 2.9 MMscfd. The company has successfully managed to keep capital expenditures within budget, and the results have demonstrated the effectiveness of scale removal in enhancing production and long-term performance. The second phase of the project is anticipated to commence in September, with further operations required to fully assess the potential benefits.
More about Metgasco Ltd
Metgasco Ltd is a company operating in the energy sector, primarily focusing on the exploration and production of gas. It is involved in joint ventures within the ATP 2021 and PRL 211 projects, with a 25% stake alongside partners Vintage Energy Ltd and Bridgeport Cooper Basin Pty Ltd.
Current Market Cap: A$3.67M
See more data about MEL stock on TipRanks’ Stock Analysis page.