Green Dragon Gas' First Half Output Up 18%

China focused Green Dragon Gas Thursday said 2015 first half gross production stood at 4.87 Bcf, up 18 percent on year.

The company said 30 well LiFaBriC drilling programme is on track with first phase of drilling vertical wells for eventual LiFaBriC interception near completion. Green Dragon will focus on second phase of drilling remaining LiFaBriC wells in the second half of 2015.

A total of 18 wells were drilled in the first half of the year, including 1 LiFaBriC and 1 lateral re-completion. Also, eight LiFaBriCs were connected to infrastructure during the first half.

“Our focus during the last six months, together with our partners, has been on infrastructure and connecting our wells to the network, which is key to delivering a step-up in our production and cash flows,” Randeep S. Grewal, Chairman and Founder of Green Dragon, commented.

During the said period, a total of 67 wells connected, a 14 percent increase from year end 2014 of 59 wells.

“We are pleased to reiterate our target of exiting the year at a production rate of 12 bcfpy , and of continuing to deliver strong growth and value for our shareholders from our operations,” Grewal said.

In the downstream segment, Green Dragon piped 2.65 billion cubic feet of natural gas in the first half, up 10 percent on year.