Byron starts up US offshore block
PERTH, March 27, 2018 – Byron Energy has started oil production at South Marsh Island Block 71 (SM 71) in the US Gulf of Mexico, the company announced on Monday.
“Commencement of production is a watershed event for Byron,” said CEO Maynard V. Smith. “SM 71 is expected to generate significant cashflow and to broaden Byron’s investor appeal.”
Combined output from the first two wells drilled at the site, F1 and F2, was 4,000 bopd on March 25, the statement added. A third well, F3, is also nearing completion and the company expects to ramp up production from all three wells “significantly” in the near future.
Byron is the operator of SM71 with a 50% working interest and a 40.625% net revenue interest in it. Otto Energy holds the remaining shares in the project.