Mosman back to production after heavy rain in Texas

Mosman Oil and Gas updated the market on the Welch Permian Basin Project and the Strawn Project in Texas on Monday, both of which are operated by a subsidiary company.

The AIM-traded firm had reported on 18 October that, at both projects, there had been recent significant rainfall.

It said at the time that several wells had been temporarily shut in, and that the collection of oil from sites had been delayed due to the rain and impassable local roads.

Mosman confirmed on Monday that the rain had now abated, and recently four tankers of oil had been sold from the Welch Project and two from the Strawn project.

Further sales were expected before the end of the month.

A number of the wells that were shut in were now again producing, but some wells still required minor repairs that would be remedied over the coming weeks, the company said.

Repairs were being prioritised towards production.

“As stated, the effect will be a slightly lower average production rate,” said chairman John W Barr.

“There remain a small number of repairs to be completed at Welch, however the board maintains its belief in a focus on building production.”