Far East Energy Reports More Gas Production at Shouyang CBM Block
by Far East Energy Corp.
|Thursday, February 13, 2014
Far East Energy Corporation, the U.S. listed company that operates the Shouyang Block Coalbed Methane (CBM) Production Sharing Contract (PSC) in Shanxi Province, People’s Republic of China, reported Wednesday a continued rise in gas production from the Shouyang Block since the last release on Jan. 22.
Following its Jan. 22 announcement that gas production at Shouyang had reached 1,797,499 cubic feet per day (1,797 million cubic feet per day or MMcf/d) as of Jan. 20, management is now pleased to announce that, as of Feb. 11, production has reached 2,029,604 cubic feet per day (2,030 MMcf/d).
This is up 13 percent from the production figure released Jan. 22, and is almost three times higher than the 738 MMcf/d produced for the week ending Nov. 12, 2013.
Commenting, CEO Mike McElwrath said, "It is gratifying to have reached this milestone; and it is even more satisfying to realize that we are in a period of prolonged production increases. The 2013 drilling program was a great success and these numbers highlight its ongoing impact. Special credit to our field teams, who worked through the Chinese New Year period to ensure continued production growth."
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