Nighthawk reports tenfold jump in oil output in 2013

6th Jan 2014 07:49

Nighthawk Energy, the AIM-listed oil firm focused on the US, reported a tenfold increase in production in 2013, helped by a strong ramp-up in output during the second half.Nighthawk, which wholly owns and operates the Smoky Hill and Jolly Ranch projects in the Denver-Julesburg Basin, Colorado, said that annual production totalled 364,968 barrels of oil (bbls), up from just 31,492bbls in 2012. This averaged out to 1,000bbls per day over the year, with average production rising to 1,528bbls/day and 1,508bbls/day in the third and fourth quarters, respectively.In fact, oil production over the last 10 days of 2013 surged to 1,753bbls/day as Nighthawk's Big Sky 12-11 and John Craig 1-2 wells commenced production during the month."The year-on-year comparison of oil production demonstrates the significant progress made by Nighthawk over the past 12 months," said Chairman Stephen Gutteridge. "We enter 2014 with production at new record levels and with plans to continue the strong growth with further development drilling," he said.BC