Mosman sees 65% output increase in Q1

Mosman Oil & Gas, an independent upstream company active in the US and Australia, posted a 65% quarterly increase in hydrocarbon output on April 20.

Aggregate net production from Mosman's US production assets amounted to 11,756 barrels of oil equivalent in the first three months of this year, an increase from 7,123 boe in the December quarter.

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The total includes gas output from Mosman's 23% working interest in the Winters-2 well in East Texas. Winters-2 was brought on stream in late February at an initial flow rate of 545,000 ft³/day, following upgrades to gas infrastructure in the local area.

Winters yielded 778 boe net to Mosman over the course of the quarter, including a full month of gas output from the new production well. The figure increased from 50 boe in the preceding quarterly period.

Aside from Winters, output was also boosted by a new production well at Mosman's Stanley oil and gas concession in Texas. A fifth well producing well launched in December 2021 and lifted the concession's overall net output to 2,799 boe from 1,741 boe in October to December. Mosman's equity stakes in the Stanley area range from 34.85% to 45%.

The Stanley-4 gas production well launched in March and has seen output steadily rising. It flowed back 275,000 ft³/day of natural gas initially but this increased to 902,000 ft³/day for the four-day period from April 6 to April 10. Mosman holds a 45% equity stake in the new well, which is also producing six oil barrels/day. 

"Mosman is very pleased to report a 65% uplift in net production despite a temporary disruption at Arkoma," company chairman John Barr said. "The completion of gas infrastructure at Stanley/Winters in East Texas is a significant milestone, which opens up development potential and benefits revenue, especially with current strong gas prices."

"We continue to make steady progress and are increasing production, with significant further development potential in existing leases," he said.