Anglo-Suisse's Gulf Oil Production at 18% of Pre-Hurricane Rates

Anglo-Suisse Offshore Partners, LLC reported that its oil and gas producing facilities offshore Louisiana (West Delta, Shelf area) and Texas (Matagorda) suffered only minor damage as a result of Hurricanes Gustav and Ike.

The Company immediately initiated necessary repairs to its offshore structures and expects to regain full production by mid-October.

ASOP's West Delta fields, which include 44 active wells, were shut in on August 29 in anticipation of Hurricane Gustav. The fields suffered minor damage, and production in the WD 27 field was restarted on September 20.

As of September 23, ASOP's oil production is at approximately 18% of pre-hurricane rates. The Company anticipates the WD 29 field will be on production by September 27. At that time, the well will be producing at about 74% of pre-hurricane rates, which averaged 4,800 barrels of oil (equivalent) per day.

The Company also said production from the Matagorda MI-632 field, which includes 12 active wells, was restarted on September 16 and had topped pre-storm rates of 22 million cubic feet of natural gas per day as of September 21.