Production report for June 2022
Oslo, 15 July 2022
| June 2022 | May 2022 | |||
| Operated | Boepd (1) | Bopd (2) | Boepd (1) | Bopd (2) |
| Colombia | 930 | 571 | 994 | 640 |
| Argentina (3) | 2,177 | 407 | 2,326 | 390 |
| Total operated | 3,107 | 978 | 3,320 | 1,030 |
| Total equity | 764 | 398 | 815 | 440 |
(1) Barrels of oil equivalents per day (includes liquid and gas)
(2) Barrels of oil per day (represents only liquids)
(3) Operated by Selva Maria Oil on behalf of IOX until local authorities approve operator’s licence.
[boepd]: barrels of oil equivalents per day (includes liquid and gas)
[Operated]: 100% field production operated by Interoil
[Equity] : Interoil’s share production net of royalties.
Comments
In June 2022, the average daily operated production from fields in Argentina and Colombia combined was 3,107 barrels of oil equivalents per day (boepd), compared with 3,320 boepd in May 2022. This reduction in production is explained mainly by surface operational issues taken place in Colombia and Argentina as explained below.
June operated production decreased by 214 boepd representing around 6 percent reduction against previous month. This reduction is largely explained by the Santa Cruz operation where winter usually affects oil and gas production. In Colombia, production also was reduced mainly because Vikingo was kept shut down most of the month, see below.
In Argentina, all Santa Cruz operated fields experienced a reduction in production flows in lined with the austral extreme winter temperatures (-15 centigrade) usually affecting oil and gas production due to the austral hemisphere weather condition for this time of the year.
In Colombia, Puli C production decreased also following its natural depletion rate, especially the Mana Field where unexpected failures in a surface production pump in a well has impacted the over daily production output. In the Llanos area, Vikingo was shut in while gathering data as part of a planned reservoir management study. The exploration campaign in Altair and LLA-47 blocks remains on hold and pending approval from local authorities. Conversations with the ANH concerning the formal approval process are ongoing.
Additional information
After receiving comments and suggestions from investors, Interoil has decided to include further details about its production performance in its monthly reports. The two graphs and tables in the attached pdf show operated and equity production of oil and gas respectively and by country.
Operated production is defined as total output from fields operated by Interoil. Equity production is Interoil’s share of production net of royalties.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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Interoil Exploration and Production ASA is a Norwegian based exploration and production company - listed on the Oslo Stock Exchange with focus on Latin America. The Company is operator and license holder of several production and exploration assets in Colombia and Argentina with headquarter in Oslo.
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