Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Capital Markets | Capital Expenditure | Drilling Program
Oando Energy Details Spending by Asset
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Oando Energy Resources Inc., a company focused on oil and gas exploration and production in Nigeria, has announced financial and operating results for the year ended December 31, 2014.
Acquisition Assets OML 60-63From July 30 to December 31, 2014 capital expenditures on the Acquisition Assets totalled $38.1 million, which was primarily attributed to OML 60 to 63 assets. Capital expenditures included $9.9 million spent on development drilling activities in the Ogbogene NE and Ogbainbiri Deep C projects and a number of work-over activities in the area. In addition, the Company incurred $28.2 million on facilities related to the Ebocha Oil Centre, production facility enhancements and the repair of gas pipelines.
In 2015 the Company will prudently utilise capital recognizing the current…Finish this article — free account or subscription
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