Friday, July 08, 2011
Norse Energy Corp. ASA
Norse Energy provided a second quarter 2011 production and sales update. The Company is pleased to report gross production, recorded at its field meter stations, of approximately 6,650 Mcf/d (1,185 BOE) in 2Q11, a decrease of 8% from 7,200 Mcf/d (1,282 BOE) in 1Q11. Gross production volumes, to be reported in the 2Q11 financial statements may deviate somewhat from this early estimate. Net volume will also be reported in the 2Q statements.
Two new horizontal Herkimer wells completed after the frost laws drilling pause began the initial ramp up during the past few days and a third well is currently drilling through the Herkimer with good gas shows. Current production is averaging approximately 7,100 Mcf/d (1,264 BOE). In addition, the company has approximately 1,400 Mcf/d (249 BOE) of gas shut-in pending installation of in-field pipeline connections and pipeline to our new Dominion Transmission interconnection and meter station.
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