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Bass Oil impacted by lower production

Funding State Gas

In its latest January operations report, Bass Oil noted that daily oil production for the group averaged 279 barrels of oil per day (bopd) for the month.

The company had a total production amounting to 8660 barrels, down 8.8 per cent with monthly sales of 8105 barrels.

Total sales revenue for January totalled to $754,875, down 2.4 per cent compared to December 2023 levels, which was due to lower oil production.

In its Cooper Basin operations, Bass Oil had 3196 barrels of oil from its 100 per cent owned Worrior and Padulla oilfields. Of this, 2593 barrels were sold with daily production averaging 103bopd, down 3.7 per cent on December 2023 levels.

The company achieved an average sales price of $121.94 per barrel for the oil sales, a 5.7 per cent increase on December, due to higher oil prices and favourable exchange rate movements.

There was no unplanned downtime at the oilfields and production from the wells was steady, according to Bass.

However, from January 1 to 17 February 2024, the Moomba area received over 1800mm of rainfall, resulting in the closure of most of the roads in the area.

The roads are gradually reopening to heavy vehicles with production unaffected as there is sufficient onsite storage until tanker exports resume later in February.

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