Lundin on Track to Increase Production in 2015

Lundin on Track to Increase Production in 2015
Lundin Petroleum expects to increase production to between 41,000 and 51,000 barrels per day in 2015.

Lundin Petroleum expects to produce between 41,000 and 51,000 barrels of oil equivalent per day (boepd) in 2015, the Swedish independent oil company reported Monday. The company previously reported a production rate of 25,900 boepd for the first nine months of 2014.

Approximately 70 percent of the firm's production in 2015 will occur on the Norwegian Continental Shelf.

Updating investors about its reserves, Lundin said that its proven and probable working interest 2P reserves were 187.5 million barrels of oil equivalent as of December 31. Its best-estimate 2C contingent resources, excluding the Johan Sverdrup field, are 404 million boe.

Lundin said its reserves estimates benefited from the inclusion of the Viper/Kobra accumulation within the Alvheim field and the inclusion of on in-full well on the Volund field, both offshore Norway. The company's reserves also benefited from the inclusion of a unitized interest in the Ivar Aasen field.

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