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LONDON - Ascent Resources Plc (LON:AST) has restarted production at four previously shut-in wells in the Wolf Point area of Utah, according to a company press release issued Friday.
The wells, which had been inactive for six months, resumed production on June 25 after ARB Energy Utah, LLC implemented a lower 70 psi pressure gathering system. Initial 24-hour production rates reached 776 Mcfd (approximately 129 barrels of oil equivalent per day) and 6 barrels per day across the four wells, exceeding prior expectations.
The operator anticipates the wells will remain in production with rates expected to stabilize over the next 30 days.
This development is part of a work program announced on June 20 to revive shut-in wells in the area. ARB Energy Utah is currently installing water separation tanks at five additional shut-in wells, which are expected to resume production soon.
The initial program targeted 15 wells, but following these results, the operator plans to expand work-over operations. The company reports having approximately 40 shut-in wells in its inventory that could potentially be reactivated.
In a separate development, Ascent noted that road clearing at its Colorado acreage, operated by Locin Oil Corporation, has enabled one well to add 55 Mcfd to production.
The company stated that the Wolf Point wells offer future recompletion opportunities, with further updates to be announced as they develop.
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