Petroleum Africa
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Tuesday, April 14, 2015
Mart Resources issued a production flow update for February from its Umusadege field in Nigeria. The field saw average production flows for the month of approximately 19,230 bpd. Â Aggregate calculated Umusadege field downtime during February 2015 was approximately 2.0 days (based upon days with production of more than 10,000 bpd being considered to have no downtime), the average field production based on producing days was approximately 20,680 bpd in February 2015.
The company also reported that after completion of drilling and testing of the UMU-13 well in January, the drill rig has been on standby while reviewing the 2015 capital expenditure program and finalizing a deferral of principal payments under the loan facility with a Nigerian bank to provide more flexibility in funding the 2015 capital expenditure program.
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