Far East Energy Provides Update on Shouyang CBM Block Operations

Far East Energy Corporation on Friday said production at Shouyang block during the second quarter of 2015 was approximately 1.59 million cubic feet per day (MMcf/d).

Production volumes in the first quarter of the years was roughly 1.69 MMcf/d.

“As previously reported, management has undertaken broad cost control efforts to effectively manage operating and overhead costs; including, but not limited to, the shutting-in of certain wells, resulting in the somewhat reduced production volumes,” the company said. 

However, gas sales operations have continued. Sales volumes for the second quarter of 2015 remained relatively constant with an average of 1.42 MMcf/d compared to sales volumes of 1.53 MMcf/d for the first quarter of 2015. 

Far East Energy is the operator under the Shouyang PSC to develop the Shouyang block in Shanxi Province, China.