Sound Energy Confirms Clean-Up Operations at Nervesa
Junior oil and gas firm Sound Energy confirmed Tuesday that clean-up operations are continuing at its onshore Nervesa gas discovery in northern Italy after first gas was achieved there on February 3.
Early production at Nervesa has been limited to an initial rate of one million cubic feet per day during daytime hours and 0.7 million cubic feet per day overnight. The company said it will begin ramping up production levels over the coming months to the planned production rate of 1.8 million cubic feet per day.
Energy sector analysts at London-based investment bank finnCap commented in a brief research note:
"While these rates may look low, best practice dictates restraint initially in order to fully understand how the reservoir will perform."
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