President Energy

It seems only right to be reporting on President from Fort Lauderdale, on Super Tuesday when what an only be described as a ‘peculiar ‘ list of potential Presidential candidates.

President has announced that the new Rio Negro pipeline and infrastructure is now commissioned and in operation resulting in deliveries of gas to market sharply increasing.

The work, already announced, completes the 16km of pipeline between its Puesto Prado and Las Bases facilities together with associated infrastructure ensuring gas to flow  through the entire length of the company’s 70km pipeline to market.

As you would expect from President the work was completed on time and on budget involving significant procurement, engineering, operations and regulatory teams all completed for $5m and met from the company’s current cash flows.

Exoect sn announcement soon about gas production but but is likely to be in line with previous expectations of 1,200 boepd which added to projected June production of 800 boepd and the end H number should be 2,000 boepd making 2H net production of over 4,000 boepd.

Good to see President back delivering the goods which in better circumstances might be rewarded.