news March 08, 2013 09:18 ET
Mart Resources, Inc.: February 2013 Production Update
- Umusadege field production averaged 6,458 barrels of oil per day ("bopd") during February 2013 based on calendar days; average field production based on production days was 12,740 bopd during February 2013.
- Umusadege field net deliveries into the export pipeline were approximately 181,000 barrels of oil ("bbls") in February 2013 before pipeline losses.
CALGARY, ALBERTA--(Marketwire - March 8, 2013) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited are providing the following update on Umusadege field production for February 2013.
February 2013 Production Update
Umusadege field production during February 2013 averaged 6,458 bopd. Umusadege field downtime during February 2013 was 14 days due mainly to maintenance on the export pipeline performed by the pipeline operator. The average field production based on producing days was 12,740 bopd in February 2013.
Total crude oil deliveries into the export pipeline from the Umusadege field for February 2013 were approximately 181,000 bbls before pipeline losses. Pipeline and export facility losses for January 2013 as reported by the operator were 52,842 bbls or approximately 14.1% of total crude deliveries. February pipeline and export facility losses have not yet been reported by the pipeline operator.
Additional information regarding Mart is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com