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BRIEF-Madalena Energy Says For Q1 Expects Production To Average About 2,025 BOE/d (91 Pct Oil)

Published 2019-01-10, 08:18 a/m
Updated 2019-01-10, 08:20 a/m
© Reuters.  BRIEF-Madalena Energy Says For Q1 Expects Production To Average About 2,025 BOE/d (91 Pct Oil)

Jan 10 (Reuters) - Madalena Energy Inc MVN.V :

* MADALENA PROVIDES AN OPERATIONAL UPDATE FOR THE FOURTH QUARTER 2018, HIGHLIGHTING A NEAR-TERM COMMITMENT REDUCTION AND PRODUCTION INCREASE

* MADALENA ENERGY - Q4 PRODUCTION WAS ABOUT 1,730 BOE/D (86% CRUDE OIL) BEFORE ROYALTIES, UP 8.8% FROM 1,590 BOE/D IN PRIOR QUARTER

* MADALENA ENERGY INC - DECEMBER PRODUCTION AVERAGED 2,100 BOE/D

* MADALENA ENERGY INC - FOR Q1 EXPECTS PRODUCTION TO AVERAGE ABOUT 2,025 BOE/D (91% OIL)

* MADALENA ENERGY - Q4 AVERAGE OIL, NGLS AND GAS SALES PRICE WAS ABOUT $53.93 VERSUS Q3 AVERAGE PRICE OF $56.54 PER BOE

* MADALENA ENERGY - FOR 2019, VERTICAL EXPLORATORY WELL WITH APPROXIMATE COST OF $2 MILLION TO BE DRILLED IN H2 IN PUESTO MORALES

* MADALENA ENERGY - REMAINING COMMITMENTS FOR PUESTO MORALES HAVE BEEN RE-SCHEDULED FOR 2020 AND 2021

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