Antrim shares jump as Causeway and Cormorant production resumes

25th Oct 2013 08:24

Canada-based oil and gas company Antrim Energy said oil production at the Causeway and Cormorant East Fields in the North Sea had restarted.It follows the completion of maintenance work on the North Cormorant platform. Antrim, which has a 35.5% interest in the Causeway field and 8.4% interest in the Cormorant East field, had told investors on September 10th that this work would interrupt production for about six weeks.It said on Friday that production had resumed and added that production rates from the Causeway field were expected to rise over the next year with the start up of the electrical submersible pumps and commencement of water injection.Shares in the AIM-listed company jumped 24% to 7.75p at 08:43. TB