March Production Up 22.4% on Last Year as New Wells Ramp Up
Brisbane, April 17, 2012 AEST (ABN Newswire) - WestSide Corporation Limited (
ASX:WCL) is pleased to advise that March quarter production at Meridian SeamGas was up 10.6 per cent on the December quarter as new Meridian wells continued ramping up and work overs showed results.
Gross field production for the month of March of 305,019 GJ was also up 22.4 per cent from the 249,089 GJ achieved in March 2011.
The upward production trend continued into the first week of April during which the field achieved an average rate of 12.2 TJ/d before excluding fuel gas consumption, as another of the seven new dual-lateral wells reached the desorption point.
WestSide's Chief Executive Officer Dr Julie Beeby said Meridian's seven new dual-lateral wells and three new up-dip laterals were all on pump now for the first time with Pretty Plains 10 flowing gas for the past month at a rate of more than 1,000,000 scf/d.
"However, only four of the wells have been producing significant volumes to date, so we expect to see production continue to build as all these wells ramp up over coming months," Dr Beeby said.
WestSide's average net daily production continued to climb throughout the last quarter, reflecting the increasing contribution from new wells. [Chart 1] Quarterly production regained the upward trend established after the rain-affected March quarter of 2011. [Chart 2].
To view the complete WestSide Corporation announcement including Chart 1 & 2, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-WCL-241161.pdf
Contact
WestSide Corporation Limited
T: +61-7-3020-0900
F: +61-7-3020-0999
WWW: www.westsidecorporation.com
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