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Prospex Oil and Gas ( (GB:PXEN) ) has shared an update.
Prospex Energy PLC has announced an operational update for the Viura gas field in northern Spain, where it holds a 7.24% interest. The field is producing gas at a steady rate of over 190,000 standard cubic meters per day, with a reduced water production due to recent well improvements. This performance supports the company’s view of Viura as a strong asset. The operator is reprocessing 3D seismic data to optimize the structural model, aiming to secure a debt facility for future development wells scheduled for late 2026 or early 2027. This update underscores Prospex’s strategic focus on enhancing its energy portfolio and securing financial backing for further development.
More about Prospex Oil and Gas
Prospex Energy PLC is an investment company listed on the AIM market, focusing on European gas and power projects. The company holds a stake in the Viura gas field in northern Spain, which is operated by HEYCO Energía Iberia S.L. Prospex’s involvement in the Viura field is part of its strategy to enhance its portfolio in the energy sector.
Average Trading Volume: 897,431
Technical Sentiment Signal: Sell
Current Market Cap: £15.43M
Learn more about PXEN stock on TipRanks’ Stock Analysis page.