BRIEF-Westernzagros Resources Q2 gross oil sales averaged 4,884 barrels of light oil per day

Thu Aug 11, 2016 7:42am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Aug 11 (Reuters) - Westernzagros Resources Ltd :

* Qtrly gross production averaged approximately 5,500 bbl/d over 80 days in Q2

* Qtrly revenue recognized by Westernzagros was $4.3 million for approximately 120,000 bbl

* For remainder of 2016, company anticipates average daily productive capacity of sarqala-1 will be approximately 5,000 bbl/d

* Westernzagros announces second quarter 2016 operational and financial results

* Q2 gross oil sales averaged 4,884 barrels of light oil per day

* Qtrly Westernzagros's net oil sales were 1,317 bbl/d

* Will continue to maintain a conservative approach to capital spending for remainder of 2016

* Westernzagros continues to review strategic initiatives

* Company estimates spending for remainder of year of approximately $20 million Source text for Eikon: Further company coverage: