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KrisEnergy firing on all cylinders, says director

Published: 18:52 12 Nov 2015 AEDT

KrisEnergy’s (SGX:SK3) executive director Richard Lorentz says the company is ‘delivering on all fronts’ operationally.

The upstream oil and gas junior said production jumped almost 20% in this year's third quarter, averaging 8,847 barrels of oil equivalent per day.

That helped to maintain positive cash flows, despite the fall in oil prices.

First oil in August from the Wassana field, Thailand marked a major milestone for the firm, which raised S$169.5mln in the summer.

Oil price is the elephant in the room – KrisEnergy’s Lorentz

Richard Lorentz, director of business development at Kris Energy (SGX:SK3), says 2016 will be a ‘lean and mean year’ as the upstream producer shaves capex spending to the lowest in the company’s six-year history. With oil prices at current levels the company won’t have any exploration...

on 25/2/16