{"id":9455,"date":"2020-11-23T08:31:43","date_gmt":"2020-11-23T08:31:43","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=9455"},"modified":"2020-11-23T08:31:43","modified_gmt":"2020-11-23T08:31:43","slug":"tunisia-gabon-panoro-energy-provides-operational-update","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/tunisia-gabon-panoro-energy-provides-operational-update\/","title":{"rendered":"TUNISIA\/ GABON: Panoro Energy Provides Operational Update"},"content":{"rendered":"

Operational Highlights<\/u><\/strong><\/p>\n

Group net production of 2,117 bopd for Q3 2020, down slightly on Q2 due to announced pump replacements during the quarter in Tunisia<\/p>\n

Production and lifting operations maintained and largely unaffected through the crisis<\/p>\n

Health and Safety systems and protocols proved resilient<\/p>\n

Gabon<\/strong><\/p>\n

In Gabon, quarterly production of 15,449 bopd gross on average, slightly below last quarter\u2019s record high, with peak production levels exceeding 20,000 bopd<\/p>\n

At Dussafu, seismic reprocessing completed, potential for material increase in hydrocarbon volumes at Hibiscus up to three times as large<\/p>\n

Material cost and time savings through an alternative development plan for the Hibiscus\/Ruche area using jack-up rigs in place of a wellhead platform<\/p>\n

$100 million gross in capital savings as compared to previous concept<\/p>\n

Break-even for next development phases of approximately $25 per barrel<\/p>\n

One crude oil lifting in the third quarter, sold at $46 per barrel with operating costs of $19.6 per barrel<\/p>\n

Tunisia<\/strong><\/p>\n

5,000 bopd gross target achieved during October and current production steady at these levels<\/p>\n

Tunisian quarterly production of 3,261 bopd gross on average, with production being impacted by replacement of two ESPs<\/p>\n

Guebiba 10 side-track successful, confirmed oil in two reservoirs, on production in lower Bireno interval with highly productive Douleb to be produced in the future<\/p>\n

Multiple workover activities performed during quarter and continuing into Q4, all completed safely and without incident<\/p>\n

Two liftings, one international and one domestic, totalling 104,705 bbls during the quarter<\/p>\n

Corporate Highlights<\/u><\/strong><\/p>\n

In advanced discussions for a senior secured loan facility for the funding of next phases at Dussafu<\/p>\n

Strengthening of team with the addition of Tim O\u2019Hanlon as Senior Advisor to the Board. Tim was a founder member of the Tullow Oil team where he spent many of the last 30 years as Vice President of Africa<\/p>\n

Hedging strategy proving effective in period of extremely volatile and low oil prices, realising USD 3.9 million in finance income for the nine months to 30 September 2020<\/p>\n

Outlook and Guidance<\/u><\/strong><\/p>\n

Three liftings expected in 4Q 2020 (two in Gabon, one in Tunisia), generating 35-40% of annual expected revenue<\/p>\n

Hedging position remains strong at approximately 25% of production hedged until end 2021 at USD 55 per barrel<\/p>\n

2020 net production guidance of 2,200-2,300 bopd<\/p>\n

In Gabon, production from DTM-6H (drilled but not tied in) and DTM-7H (to be drilled) to be brought into production likely during 1H 2021<\/p>\n

Production growth activity in Tunisia to continue<\/p>\n

Dividend of PetroNor shares to Panoro shareholders (upon completion of sale of Aje)<\/p>\n

Completion of farm in to Block 2B South Africa (subject to closing conditions)<\/p>\n","protected":false},"excerpt":{"rendered":"

Operational Highlights Group net production of 2,117 bopd for Q3 2020, down slightly on Q2 due to announced pump replacements during the quarter in Tunisia Production and lifting operations maintained … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7446,11,7444],"tags":[8684,8685,8680,944,8683,8681,8682,2272,2578],"class_list":["post-9455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","category-west-africa","tag-dtm-6h","tag-dtm-7h","tag-dussafu","tag-gabon","tag-guebiba-10","tag-hibiscus","tag-ruche","tag-seismic","tag-tunisia","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Panoro-Energy-operations.jpg?fit=388%2C470&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2sv","jetpack-related-posts":[{"id":9973,"url":"https:\/\/www.oilnewskenya.com\/index.php\/panoro-energy-provides-2020-y-e-operational-update\/","url_meta":{"origin":9455,"position":0},"title":"Panoro Energy Provides 2020 Y\/E Operational Update","author":"","date":"February 25, 2021","format":false,"excerpt":"Operational Highlights Annual group production net to Panoro of 0.81 MMbbls with average daily rate of approximately 2,200 bopd. Average production of approximately 2,350 bopd for Q4 2020 due to improved production in Tunisia Production and lifting operations maintained and largely unaffected through the crisis Health and Safety systems and\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Panoro-Energy-operations.jpg?fit=388%2C470&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8976,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tunisia-gabon-panoro-energy-provides-operations-for-h1-2020\/","url_meta":{"origin":9455,"position":1},"title":"TUNISIA\/ GABON: Panoro Energy Provides Operations for H1 2020","author":"","date":"August 27, 2020","format":false,"excerpt":"Operational Highlights Production and lifting operations maintained and largely unaffected through crisis Health and Safety systems and protocols proved resilient In Gabon, quarterly production at record high of 15,991 bopd gross on average, with current production in excess of 18,000 bopd At Dussafu, seismic reprocessing completed, potential for material increase\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Panoro-Energy-operations.jpg?fit=388%2C470&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12422,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-panoro-energy-provides-dussafu-marin-update\/","url_meta":{"origin":9455,"position":2},"title":"GABON: Panoro Energy Provides Dussafu Marin Update","author":"","date":"July 12, 2022","format":false,"excerpt":"Gross production at the Dussafu Marin Permit for the first six months averaged approximately 11,150 bopd and is in line with expectations.\u00a0 Second quarter gross production averaged approximately 10,700 bopd from four wells, with the remaining two wells shut in due to pre-communicated gas lift capacity constraints.\u00a0 As previously guided\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/Gabon-Hubiscus.jpg?fit=496%2C416&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10239,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-bw-energy-re-starts-3-well-drilling-campaign-on-the-dussafu-license\/","url_meta":{"origin":9455,"position":3},"title":"GABON: BW Energy Re-starts 3-well Drilling Campaign on the Dussafu license","author":"","date":"April 22, 2021","format":false,"excerpt":"BW Energy Limited is pleased to announce the re-start of a three-well drilling campaign on the Dussafu license offshore Gabon consisting of two exploration wells in the Hibiscus area and one production well on the Tortue field. The Borr Norve jack-up rig has been contracted for the campaign. The current\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/Gabon-Hubiscus.jpg?fit=496%2C416&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":15756,"url":"https:\/\/www.oilnewskenya.com\/index.php\/panoro-energy-provides-an-operational-update\/","url_meta":{"origin":9455,"position":4},"title":"Panoro Energy Provides an Operational Update","author":"Samuel Kamau Mbote","date":"May 7, 2026","format":false,"excerpt":"Equatorial Guinea As previously communicated, production at Block G offshore Equatorial Guinea (Panoro 14.25 percent) has been impacted by unplanned facilities related downtime at the Ceiba field Progress is being made with partial restoration of production at Ceiba achieved. Work will continue in 2026 to regain full potential and ensure\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Panoro-Energy.png?fit=664%2C320&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Panoro-Energy.png?fit=664%2C320&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Panoro-Energy.png?fit=664%2C320&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":15337,"url":"https:\/\/www.oilnewskenya.com\/index.php\/15337-2\/","url_meta":{"origin":9455,"position":5},"title":"Panoro Energy has provided an\u2026","author":"","date":"November 6, 2025","format":false,"excerpt":"Panoro Energy has provided an operations update in advance of its third quarter 2025 results. Production and Operations Update Group working interest production in Q3 and for the first nine months of 2025 was: Average W.I. production - bopdQ3 20259M 2025Gabon4,7605,971Equatorial Guinea2,5253,103Tunisia1,5261,537Total8,81110,611 Full-year 2025 working interest production expected to be\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/07\/Gabon-Dussafu-1.webp?fit=1000%2C744&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/07\/Gabon-Dussafu-1.webp?fit=1000%2C744&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/07\/Gabon-Dussafu-1.webp?fit=1000%2C744&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/07\/Gabon-Dussafu-1.webp?fit=1000%2C744&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=9455"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9455\/revisions"}],"predecessor-version":[{"id":9456,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9455\/revisions\/9456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8977"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=9455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=9455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=9455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}