Nostra Terra Oil & Gas says Pine Mills workover is exceeding expectations
Portfolio Pulse from
Nostra Terra Oil & Gas has successfully completed Phase 1 of its workover program at Pine Mills, Texas, resulting in a 60% increase in oil production. The production now averages 120 barrels of oil per day, with five previously shut-in wells back in operation.
November 11, 2024 | 8:30 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Nostra Terra Oil & Gas has increased its oil production by 60% at Pine Mills, Texas, following a successful workover program. This improvement is due to the reactivation of five previously shut-in wells, leading to an average production of 120 barrels of oil per day.
The significant increase in production by 60% is a positive development for NTOGF, indicating improved operational efficiency and potential revenue growth. The reactivation of five wells suggests a successful execution of the workover program, which is likely to positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90