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Highlights

  • Successful commissioning of the new booster compressor at Saltfleetby Gas Field
  • First quarter 2025 gas sales reached 4.55 million therms from Saltfleetby Field
  • Brockham Field production averaged 24 barrels of oil per day in Q1 2025

Angus Energy PLC (AIM: ANGS) has provided an update on its operations for the first quarter of 2025, highlighting key developments and production figures. A major milestone was the successful commissioning of the new booster compressor at the Saltfleetby Gas Field, which came online on April 11, 2025. The addition of this compressor is expected to enhance gas flow rates from the field by reducing well head pressures and assisting in the removal of liquid buildup, which has been limiting gas production.

In the first quarter of 2025, the Saltfleetby Field produced 411 million standard cubic feet of natural gas and 7,381 barrels of gas condensate, with gas sales amounting to 4.55 million therms. This marks a decline in comparison to the 5.73 million therms sold during the fourth quarter of 2024, which was impacted by cold weather and production constraints due to liquid loading in the wells. The new compressor has already improved production by 18% compared to March averages, and further optimization is underway.

At the Brockham Field, production amounted to 2,150 barrels of crude oil during the quarter, averaging 24 barrels per day. This is a slight increase compared to the fourth quarter of 2024, where the average was 23 barrels per day. Operational efficiency for the Saltfleetby Field was recorded at 90%, down from 94% in Q4 2024, primarily due to the challenges faced during the winter months.

The estimated revenues for the quarter reached £5.32 million, showing a decrease of approximately 15% from the previous quarter due to lower gas volumes, though offset by higher gas prices during the colder months. As the company moves into the second quarter of 2025, it will continue to monitor and optimize operations to stabilize and improve production performance.