1. Home
  2. Press release
Oct 30, 2017 15:51 JST

Source: AAG Energy Holdings Limited

AAG Energy Announces 3rd Quarter 2017 Operations Updates

HONG KONG, Oct 30, 2017 - (ACN Newswire) - On behalf of AAG Energy Holdings (HKEX stock code: 2686), we would like to inform you that AAG Energy is pleased to announce its operations update for 2017Q3, i.e. three months ended September 30, 2017.

Key Quarterly Highlights:

- HSE (health, safety, environment) continues to outperform the target with zero injury in Q3

- Gross production on track to deliver the 614 MMCM guidance for 2017 (Panzhuang: 557 MMCM, Mabi: 57 MMCM)
--- Q3 gross production of 166 MMCM, 11% YoY increase for Panzhuang and 52% YoY increase for Mabi
--- Q3 total daily production averaged 1.8 MMCM per day

- Mabi signed pilot gas sales agreement with PetroChina in Q3
--- Mabi pilot gas sales utilization rate of 98%

- Panzhuang Gas sales with exceptional utilization rate of 99% in Q3

- 2017 drilling program on schedule, with 37 wells drilled in Q3
--- 33 wells drilled YTD in Panzhuang, passing full year target of 29 wells

- Excellent performance in Cost Control
--- Drilling costs for Panzhuang in Q3 down by 27% per well from 2016
--- Drilling and completion costs for Mabi in Q3 down by 25% compared with the budget
--- Completion costs for Mabi are down 30% YoY

For details, please refer to the announcement:
http://www.hkexnews.hk/listedco/listconews/SEHK/2017/1030/LTN20171030003.pdf
and you can also find the document on the announcements page of our website:
http://www.aagenergy.com/en-US/file/files/2017-10-30/08105667029.pdf


Source: AAG Energy Holdings Limited
Sectors: Daily Finance, Energy, Alternatives

Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Related Press Release

AAG Energy's Operations Remain Strong in 2018Q3
October 30 2018 20:56 JST
 
AAG Energy 2018 Interim Net Profit Surges by 223% and EBITDA up by 109%, Gross Gas Production Up by 30%
August 24 2018 23:14 JST
 
AAG Energy's Operations Remain Strong in 2018Q2
July 11 2018 21:54 JST
 
AAG Energy's Operations Remain Strong in 2018Q1
April 16 2018 21:58 JST
 
Revenue of AAG Energy Increases by 31.2% to RMB 735.5 Million in 2017
March 24 2018 14:10 JST
 
AAG Energy Announces 4th Quarter 2017 Operations Updates
February 08 2018 20:16 JST
 
AAG Energy Achieves Remarkable Results for 2017 Interim
August 24 2017 23:50 JST
 
AAG Energy Announces 2nd Quarter 2017 Operation Updates
July 24 2017 21:20 JST
 
AAG Energy Announces 2016 Annual Results
April 05 2017 09:43 JST
 
AAG Energy Announces 4th Quarter 2016 Operation Updates
January 26 2017 10:30 JST
 
More Press release >>

Latest Press Release


Four-strong TOYOTA GAZOO Racing squad to push for more Portugal success
May 02, 2024 18:05 JST

Spectacular Spa awaits TOYOTA GAZOO Racing
May 02, 2024 17:46 JST

Q&M Dental Enhances Digital Capabilities by Integrating Align Technology's Newest iTero Lumina(TM) Intraoral Scanner Across Dental Clinics in Singapore
May 02, 2024 11:00 JST

Sumitomo Metal Mining and Mitsubishi Corporation to Participate in Kalgoorlie Nickel Project - Goongarrie Hub
Apr 30, 2024 19:08 JST

New Immuno-Oncology Research Project in Partnership With Merck Starts at the BioMed X Institute in Heidelberg
Apr 30, 2024 18:00 JST

SPARX Group Establishes Space Frontiers Second Fund
Apr 29, 2024 18:49 JST

MHI Establishes Local Subsidiary "Mitsubishi Heavy Industries Vietnam"
Apr 29, 2024 18:00 JST

POSCO Future M and Honda Reach Basic Agreement on Collaboration for Production of Cathode Materials for Automotive Batteries in Canada
Apr 29, 2024 14:25 JST

Honda Plans to Establish Comprehensive Electric Vehicle Value Chain in Ontario, Canada
Apr 29, 2024 14:16 JST

JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan
Apr 26, 2024 10:00 JST

Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST

MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST

GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST

Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST

Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST

UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST

Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST

MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST

Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST

NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST
 More Latest Release >>