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Mosman Oil & Gas updates on US assets

Strategically, Mosman continues to assess new opportunities - meanwhile, progress is seen on the ground in the United States where recently acquired assets are advancing
Oil workers on a well
Production amounted to 440 barrels in July

Mosman Oil & Gas Ltd (LON:MSMN) gave investors an update as efforts to grow production continues at its new projects in America.

The AIM-quoted oil minnow said that production at the Strawn project, in Texas, amounted to 440 barrels (gross) in the month of July, it also noted there was a second shipment and sale of oil (amounting to 177 barrels) and it had 650 barrels left in its inventory.

Work continues to log and analyse potential production enhancing opportunities at Strawn, the company added, and it said that near-term possibilities include work to improve surface infrastructure to bring other existing wells back online.

READ: Mosman Oil and Gas officially a producer as it confirms first sale of oil from Strawn

In the longer term, operations could also involve a water flood enhanced oil production operation, along with new horizontal drilling programmes and new infill drilling.

Elsewhere, at the Arkoma Stacked Pay project the company has received some seismic data, which is now being used to update the geological model.

Onsite, meanwhile, the company is working to bring additional wells online, and the company continues to move forward towards a final investment decision for its option to acquire a larger stake in the asset.

Strategically, the company said it continues to assess new opportunities for acquisitions.

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