Argo's November 2024 Oil Production
Argo Gold (ARBTF) reported its November 2024 oil production results, achieving 3,597 barrels for the month, averaging 120 barrels per day. With oil prices at CDN$72 per barrel, the company generated revenue of $258,042 and net operating cash flow of $153,014.
The company's production comes from multiple wells: Lindbergh 1 (37.5% interest) producing 45 bbl/day, Lloyd 1 (18.75% interest) at 30 bbl/day, Lindbergh 2 (37.5% interest) at 24 bbl/day, Lloyd 2 (18.75% interest) at 2.6 bbl/day, and Lindbergh 3 (18.75% interest) at 19 bbl/day.
The company noted that Lloyd 2 experienced a well bore collapse in late October, significantly reducing production. Despite repair attempts in November and December, production remains very low. December production decreased to 3,367 barrels, averaging 109 barrels per day.
Argo Gold (ARBTF) ha riportato i risultati della produzione di petrolio di novembre 2024, raggiungendo 3.597 barili per il mese, con una media di 120 barili al giorno. Con i prezzi del petrolio a CDN$72 per barile, l'azienda ha generato un fatturato di $258.042 e un flusso di cassa operativo netto di $153.014.
La produzione dell'azienda proviene da diversi pozzi: Lindbergh 1 (interesse del 37,5%) che produce 45 bbl/giorno, Lloyd 1 (interesse del 18,75%) a 30 bbl/giorno, Lindbergh 2 (interesse del 37,5%) a 24 bbl/giorno, Lloyd 2 (interesse del 18,75%) a 2,6 bbl/giorno e Lindbergh 3 (interesse del 18,75%) a 19 bbl/giorno.
L'azienda ha notato che Lloyd 2 ha subito un collasso del foro nel tardo ottobre, riducendo significativamente la produzione. Nonostante i tentativi di riparazione a novembre e dicembre, la produzione rimane molto bassa. La produzione di dicembre è scesa a 3.367 barili, con una media di 109 barili al giorno.
Argo Gold (ARBTF) informó sobre los resultados de producción de petróleo de noviembre de 2024, alcanzando 3,597 barriles para el mes, con un promedio de 120 barriles por día. Con los precios del petróleo en CDN$72 por barril, la compañía generó ingresos de $258,042 y un flujo de caja operativo neto de $153,014.
La producción de la compañía proviene de varios pozos: Lindbergh 1 (interés del 37.5%) produciendo 45 bbl/día, Lloyd 1 (interés del 18.75%) a 30 bbl/día, Lindbergh 2 (interés del 37.5%) a 24 bbl/día, Lloyd 2 (interés del 18.75%) a 2.6 bbl/día y Lindbergh 3 (interés del 18.75%) a 19 bbl/día.
La empresa señaló que Lloyd 2 experimentó un colapso del pozo a finales de octubre, lo que redujo significativamente la producción. A pesar de los intentos de reparación en noviembre y diciembre, la producción sigue siendo muy baja. La producción de diciembre disminuyó a 3,367 barriles, con un promedio de 109 barriles por día.
Argo Gold (ARBTF)는 2024년 11월의 석유 생산 결과를 보고했으며, 이번 달에 3,597 배럴을 달성했으며, 하루 평균 120 배럴을 기록했습니다. 석유 가격이 배럴당 CDN$72에서 형성됨에 따라, 회사는 $258,042의 수익을 창출했으며, 순 운영 현금 흐름은 $153,014에 달했습니다.
회사의 생산은 여러 유정에서 나오며: Lindbergh 1 (37.5% 지분)에서 하루 45 bbl, Lloyd 1 (18.75% 지분)에서 하루 30 bbl, Lindbergh 2 (37.5% 지분)에서 하루 24 bbl, Lloyd 2 (18.75% 지분)에서 하루 2.6 bbl, Lindbergh 3 (18.75% 지분)에서 하루 19 bbl을 생산합니다.
회사는 Lloyd 2가 10월 말에 우물 붕괴를 경험해 생산량이 크게 감소했다고 언급했습니다. 11월과 12월에 수리 시도를 했음에도 불구하고 생산량은 여전히 매우 낮습니다. 12월 생산량은 3,367 배럴로 감소했으며, 하루 평균 109 배럴입니다.
Argo Gold (ARBTF) a annoncé ses résultats de production pétrolière pour novembre 2024, atteignant 3 597 barils pour le mois, avec une moyenne de 120 barils par jour. Avec des prix du pétrole à 72 CDN$ le baril, l'entreprise a généré des revenus de $258 042 et un flux de trésorerie opérationnel net de $153 014.
La production de l'entreprise provient de plusieurs puits : Lindbergh 1 (participation de 37,5 %) produisant 45 bbl/jour, Lloyd 1 (participation de 18,75 %) à 30 bbl/jour, Lindbergh 2 (participation de 37,5 %) à 24 bbl/jour, Lloyd 2 (participation de 18,75 %) à 2,6 bbl/jour et Lindbergh 3 (participation de 18,75 %) à 19 bbl/jour.
L'entreprise a noté que Lloyd 2 a subi un effondrement du puits à la fin octobre, réduisant considérablement la production. Malgré les tentatives de réparation en novembre et décembre, la production reste très faible. La production de décembre a diminué à 3 367 barils, avec une moyenne de 109 barils par jour.
Argo Gold (ARBTF) hat die Produktionszahlen für Öl für den Monat November 2024 bekannt gegeben, mit einer Gesamtproduktion von 3.597 Barrel, was einem Durchschnitt von 120 Barrel pro Tag entspricht. Bei einem Ölpreis von CDN$72 pro Barrel erzielte das Unternehmen einen Umsatz von $258.042 und einen Netto-Cashflow aus dem operativen Geschäft von $153.014.
Die Produktion des Unternehmens stammt aus mehreren Bohrlöchern: Lindbergh 1 (37,5% Anteil) mit 45 bbl/Tag, Lloyd 1 (18,75% Anteil) mit 30 bbl/Tag, Lindbergh 2 (37,5% Anteil) mit 24 bbl/Tag, Lloyd 2 (18,75% Anteil) mit 2,6 bbl/Tag und Lindbergh 3 (18,75% Anteil) mit 19 bbl/Tag.
Das Unternehmen bemerkte, dass Lloyd 2 Ende Oktober einen Bohrlochzusammenbruch erlitten hat, was die Produktion erheblich reduzierte. Trotz Reparaturversuchen im November und Dezember bleibt die Produktion sehr niedrig. Im Dezember fiel die Produktion auf 3.367 Barrel, was einem Durchschnitt von 109 Barrel pro Tag entspricht.
- Monthly revenue of $258,042 from oil production
- Positive net operating cash flow of $153,014
- Successful production from multiple wells with 120 bbl/day average
- Lloyd 2 well bore collapse causing near-zero production
- Failed repair attempts on Lloyd 2 well in November and December
- December production declined to 109 bbl/day from 120 bbl/day in November
Toronto, Ontario--(Newsfile Corp. - January 8, 2025) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") November 2024 oil production was a total of 3,597 barrels for the month, averaging 120 barrels per day. Oil prices averaged CDN
| November 2024 | Oil Production | Argo's interest | Argo's Oil Revenue | Argo's net operating cash flow |
| Lindbergh 1 ( | 119 bbl/day | 45 bbl/day | ||
| Lloyd 1 ( | 159 bbl/day | 30 bbl/day | ||
| Lindbergh 2 ( | 65 bbl/day | 24 bbl/day | ||
| Lloyd 2 ( | 14 bbl/day | 2.6 bbl/day | ( | |
| Lindbergh 3 ( | 99 bbl/day | 19 bbl/day | ||
| October 2024 Total | 120 bbl/day | |||
Lindbergh 3 came on production in late October. Lloyd 2 produced about 8,000 barrels from mid-September through until late October (Argo's share 1500 barrels) when the horizontal well bore appears to have collapsed dropping production to near zero. Operational well repair attempts in November and December have not been successful but the oil well continues to produce at very low levels.
Argo's December oil production was approximately 3,367 barrels averaging 109 barrels per day.
About Argo Gold
Argo Gold is a Canadian mineral exploration and development company, and an oil producer. Information on Argo Gold can be obtained from SEDAR at www.sedarplus.ca and on Argo Gold's website at www.argogold.com. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) CSE: ARQ as well as OTC: ARBTF and XFRA, XSTU, XBER: A2ASDS.
Judy Baker, CEO
(416) 786-7860
jbaker@argogold.ca
www.argogold.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to the financing not being completed in its entirety, or at all, delays or uncertainties with drilling and surface preparation work, and not achieving hoped for exploration success. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236427
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