Block 15 Output Surpasses 87,000b/d

UB-15, the temporary administration unit operating Ecuadorian state oil company Petroecuador's block 15, reached production of 87,040b/d on May 14, up from an average 80,000b/d the previous month, UB-15 said in a statement.

The increased production comes in part thanks to the startup of wells J-62 and F-61, which are producing 1,225b/d of 19.8 API crude and 1,400b/d of 19 API crude respectively.

The Limoncocha 2A well - the first UB-15 has drilled on the block since the May 2006 expropriation of block 15 from US oil company Occidental (NYSE: OXY) - is producing an average 2,200b/d of 29 API grade crude, down from some 2,500b/d in early May just after coming online.

UB-15 is utilizing three rigs, one of which has begun drilling the Limoncocha 18 well on the field of the same name, while the others will drill the D-63 and J-68 wells on the Eden Yuturi field.

UB-15 is awarding a fourth drilling rig expected to start operations in June.

UB-15 aims to reach an output level of 100,000b/d by year-end.

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