Otto energy limited private company information – bloomberg 1 unit electricity cost in kerala

Otto Energy Limited, an oil and gas exploration and production company, explores for, develops, and produces oil and gas primarily in North America. The company holds 8% and 10.8% working interest in 2 areas of Alaskan North Slope covering an area of approximately 2,259 square kilometers in Alaska. It also holds a 50% interest in the South Marsh Island 70/71 project, which covers an area of 12.16 square kilometers; 45% interest in the Bivouac Peak project covering an area of approximately 10 square kilometers; and 25% interest in South Timbalier 224 project covering an area of 20.23 square kilometers, which are situated in the offshore Gulf of Mexico. The company was formerly known as Ottoma…

Otto Energy Limited, an oil and gas exploration and production company, explores for, develops, and produces oil and gas primarily in North America. The company holds 8% and 10.8% working interest in 2 areas of Alaskan North Slope covering an area of approximately 2,259 square kilometers in Alaska. It also holds a 50% interest in the South Marsh Island 70/71 project, which covers an area of 12.16 square kilometers; 45% interest in the Bivouac Peak project covering an area of approximately 10 square kilometers; and 25% interest in South Timbalier 224 project covering an area of 20.23 square kilometers, which are situated in the offshore Gulf of Mexico. The company was formerly known as Ottoman Energy Limited and changed its name to Otto Energy Limited in August 2006. Otto Energy Limited was founded in 2004 and is headquartered in West Perth, Australia.

Otto Energy Limited provided the following update and information on the company’s South Marsh Island Block 71 ("SM 71") oil project. Production from the SM 71 F platform began from the F1 and F2 wells on 23 and 25 March 2018 respectively. The SM 71 F3 well commenced producing on 6 April 2018. All three wells have been on production since 6 April 2018. From 23 March 2018 to 25 April 2018 (0700 hours US CDT), the three wells have combined to produce a total volume of 83,000 barrels of oil and 55.5 mm cubic feet of natural gas (41,500 bbls and 27.7 mmcf Otto’s 50% share). As previously advised, the pipeline carrying oil to sales from the SM 71 F platform was shut in for maintenance by the pipeline operator, Crimson Gulf, LLC for four days from 19 April 2018. During the shut-in period several improvements were made to the oil and gas production system on the platform. Most of these improvements were focused on resizing valves to optimize production levels and minimize downtime on the platform. All three wells were returned to production on 22 April 2018 at a combined rate of 4,650 bopd and 3,200 mcfgpd which is over 90% of the platform’s throughput capacity. These rates are considered ideal for the current operating conditions and uptime is expected to be 96%. This rate of production also optimises drawdown on each of the wells and should maximise the ultimate long term recovery from the reservoirs. Based on these rates, Otto’s daily sales would be approximately 2,325 bopd and 1,600 mcfgpd on a 50% working interest basis (1,890 bopd and 1,300 mcfgpd on a 40.63% NRI basis (after Federal royalties of 18.75%).