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LONDON - Angus Energy PLC (AIM:ANGS), a UK-based oil and gas company, announced the successful commissioning of a new booster compressor at the Saltfleetby Gas Field on April 11, 2025. According to the company’s first quarter production update, the addition of the compressor has led to an 18% increase in production compared to early March figures.
The Saltfleetby Field produced 411 million standard cubic feet of natural gas and 7,381 barrels of gas condensate in the first quarter of 2025, with gas sales reaching 4.55 million therms. This represents a decrease from the 5.73 million therms sold in the fourth quarter of 2024. The company attributes the lower production levels to cold weather impacts and liquid loading in the wells, which the new compressor is designed to alleviate by reducing well head pressures and improving gas flow rates.
Operational efficiency at Saltfleetby was reported at 90% for the quarter, slightly down from 94% in the prior quarter. The Brockham Field, in contrast, improved its operational efficiency to 98% and produced 2,150 barrels of crude oil during the same period.
Despite lower gas volumes, Angus Energy’s estimated revenues for the quarter were £5.32m, a 15% decrease from the previous quarter’s £6.12m. The company noted that this decrease was partially offset by higher gas prices during the winter months. Additionally, the firm mentioned that legacy hedging volumes will continue at 1.25 million therms per month until June 2025.
This production and operations update is based on a press release statement issued by Angus Energy and is now in the public domain. The company, considered a leading onshore gas producer in the UK, operates the fields in which it has interest and is looking to expand its onshore production and international diversification efforts.
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