(MENAFN- ProactiveInvestors)
Sino Gas and Energy (ASX:SEH) has increased Proved Reserves at its production sharing contracts in the Ordos Basin China by 166% to 1.24 trillion cubic feet of gas (350 billion cubic feet net to the company).
Proved and Probable Reserves were up 51% to 1.6Tcf (448Bcf net to SEH).
The increases are driven by the inclusion of 36 new wells from the 2014 drilling program as well as 40 new production tests.
The commencement of pilot production has enabled the first developed producing gross 2P Reserves of 24 Bcf (Sino Gas share 8 bcf) to be booked against the blocks attributable to the initial 16 wells connected to the Sanjiaobei central gathering station.
Pilot production has been stable since December 2014 with minimal downtime producing on average 3.7 million standard cubic feet per day (to 28 February 2015) and currently producing just over 44MMscf/d with individual wells performing slightly better than expectations.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.