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Salamander Energy production rises 39 pct on output from Bualuang field
August 29, 2013 / 6:32 AM / 4 years ago

Salamander Energy production rises 39 pct on output from Bualuang field

Aug 29 (Reuters) - Salamander Energy Plc said average daily production during the first half rose 39 percent, propped by higher output at its Bualuang field in the Gulf of Thailand.

The Southeast Asia focused oil and gas company said it maintained its 2013 average daily production of 12,500-15,500 barrels of oil equivalent per day (boepd).

Average daily production increased to 14,900 boepd from 10,700 boepd a year earlier. Production from the Bualuang field averaged at 12,100 bopd.

“The Bualuang development drilling campaign (10 of 16 wells now drilled) is the driver of a 39 percent year on year increase in group production to 14.9 kboed and underpins a reiteration of FY13 guidance,” Deutsche Bank analyst Mark Bloomfield wrote in a note to clients.

Pretax profit for the six months ended June 30 was flat at $15.9 million. Revenue increased 19 percent to $214.3 million.

Salamander Energy’s core operations include Greater Bualuang in the Gulf of Thailand; North Kutei and Greater Kerendan in Indonesia. The company generates over 90 percent of its revenue from Thailand.

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