Cooper Energy slashed gas production in the December quarter, wiping 17 per cent off sales revenue to $45 million.
Cooper Energy slashed gas production in the December quarter thanks to the troublesome Orbost gas processing plant, wiping 17 per cent off sales revenue to $45 million.in Victoria, having failed to reach nameplate processing capacity on a consistent basis and forcing it to buy gas on the spot market to send to its customers.
“Work is progressing to plan for the transfer of the major hazard facility license and operatorship of the Orbost plant to Cooper Energy within the first half of 2023,” said David Maxwell, the outgoing chief executive and managing director.“Engineering and operations work is also underway with the objective to improve the plant’s stability and rate when Cooper Energy takes over operatorship.”
On Tuesday, Karoon revealed it produced 2.08 million barrels of oil from the Baúna Field in Brazil’s Santos Basin in the December quarter, 62 per cent higher than the prior three-month period.
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