Canadian minnow Oryx has been remarkably consistent in churning out around 2,500-3,000 b/d production from its Hawler block in Kurdistan. Unfortunately for Oryx this was never the plan.
Output stayed flat at 2,900 b/d in Q2, well below the scaled-back 10,000 b/d it planned to reach by end-2016 (MEES, 12 May). With focus shifting from Hawler’s disappointing Demir Dagh field to Zey Gawra, Oryx said in a December 2016 presentation that it was targeting 12,000-15,000 b/d by end-2017, but this will be another missed target. Its planned capex for the second half of 2017 has been slashed from $29mn to $13mn. (CONTINUED - 179 WORDS)
