US focused oil and gas producer AusTex Oil Limited
(ASX:AOK) says it achieved a production record of 18,897 barrels in April.
The figure is a 14 per cent increase on March production and represents an average of 630 barrels a day, a welcome boost after weather related production impediments in the March quarter.
Executive Chairman Richard Adrey says the production numbers are due to the strong performance of AusTex’s 100 per cent owned vertical wells at its Snake River project in Oklahoma.
Mr Adrey enthuses that the Snake River project is just 15 per cent developed; meaning future production upside is de-risked and very significant.
AusTex has 16 producing wells and 6 wells in the pre-production phase across its projects in both Oklahoma and Kansas.
AusTex Oil reported a $3.3 million loss for the 2012 calendar year.
