ROC Oil's Revenue Rises to $67.9M for 3Q 2013, Up 20% Over 2Q 2013

Australia-listed ROC Oil Company Limited's revenue grew 20 percent to $67.9 million for 3Q 2013, compared to $56.8 million for 2Q 2013, with the increase attributed to higher realized oil price, higher production volume and a stock overlift, the firm said in its quarterly report released Wednesday.

Total oil production rose 8 percent to 7,215 barrels of oil equivalent per day (boepd) in 3Q 2013 from 6,691 boepd in the second quarter due mainly to ramp-up of Beibu oil production in China.  

On the Beibu Gulf Project, the majority of the development work - including the five well drilling program on WZ 12-8 West Field and the installation of the PUQB helideck - has been completed. The remaining construction involves the finalization of the permanent tie-in of three of the WZ 6-12 wells.

The completion of 3D seismic acquisition on the 09/05 exploration license in the Bohai Bay, offshore China, in September was ahead of schedule, within budget and without incident. The seismic will be used to refine the exploration potential in the license and finalize the initial drilling location for an exploration well in 2014.

ROC also reported that it is participating in the offshore bidding round in Myanmar, with bids due by Nov. 15, while pre-development activities at the Balai Cluster RSC (Risk Service Contract) off Sarawak, Malaysia continued, with final commissioning of the vessel prior to commencement of Extended Well Testing. BC Petroleum (BCP) aims to submit a Field Development Plan and move towards FID (final investment decision) by Dec. 31.

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)
 -  Proserv Secures Series of Services Dea... (May 23)
 -  BP Urges Engineers to Apply for Trinid... (May 23)
 -  CGG to Support Oman Industry Workers t... (May 23)
 -  Wood Group Engineers to Carry Out Sakh... (May 22)

Most Popular Articles

From the Career Center
Jobs that may interest you
Chloride Sales Manager
Expertise: Business Development|Customer Service|Sales
Location: The Woodlands, TX
Project Manager (Subs)
Expertise: Project Management
Location: Bremerton, WA
IT Engineer II
Expertise: Engineering Manager
Location: Houston, TX
search for more jobs

Brent Crude Oil : $53.87/BBL 0.48%
Light Crude Oil : $50.73/BBL 0.79%
Natural Gas : $3.33/MMBtu 2.14%
Updated in last 24 hours