Far East Energy Produced 1.69 MMcf/d of Gas From Shouyang CBM Block

Far East Energy Corporation on Wednesday provided production and sales update related to its Shouyang CBM block in Shanxi province, China.

Production volumes for the Shouyang PSC during the first quarter of 2015 were approximately 1.69 million cubic feet per day (MMcf/d), compared with production rates for the fourth quarter of 2014 of roughly 1.84 MMcf/d.  

According to the company, decline in output is a result of shutting-in of certain wells, which is part of a broad cost control exercise.

Sales volumes for the first quarter of 2015 remained constant with an average of 1.53 MMcf/d compared to sales volumes of 1.54 MMcf/d for the fourth quarter of 2014.  

Far East Energy also stated that strategic discussions are currently ongoing regarding joint ventures, farm-ins, and an outright sale of the company.