Matra Petroleum AB: Operational update
Matra Petroleum's average daily oil and gas production*, gross, in August 2018 increased by 12% to 855 barrels of oil equivalent per day ("boepd") (July 2018: 762 boepd) and by 26% compared to the average consolidated daily production in Q2 2018 (676 boepd).
As previously informed in the Q2 financial report, daily production reached 900 boe in late August 2018, and has continued to increase in September.
The drilling program is on track with twelve wells drilled to date, out of which eight have been put on production. Four wells are scheduled for completion in September.
Consolidated oil and gas production, gross
| Oil | Gas | Total | Total daily production | |
| (bbl) | (MCF) | (boe) | (boepd) | |
| Q1-18 | 28,621 | 145,530 | 52,876 | 588 |
| Q2-18 | 32,020 | 177,061 | 61,530 | 676 |
| Jul-18 | 12,061 | 69,380 | 23,624 | 762 |
| Aug-18* | 13,833 | 76,026 | 26,504 | 855 |
* preliminary numbers, based on estimated shrinkage in processing
For further information please contact:
Maxim Barskiy, CEO, Matra Petroleum AB
Tel.: +46 8 611 49 95
About Matra Petroleum
Matra Petroleum AB (publ) is a Swedish independent oil and gas exploration and production company operating in the United States, where the company owns and operates 170 leases, covering an area of 45,640 net acres in the Panhandle region in Texas. Matra's reserves amount to approximately 25 million barrels of oil equivalent. Matra Petroleum 's shares are traded on NASDAQ First North in Sweden under the symbol MATRA. Mangold Fondkommission AB is Certified Adviser (www.mangold.se, Tel: +46 (0) 8 50 30 1550). Web: www.matrapetroleum.com
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Source: Matra Petroleum AB via Globenewswire