Angus Energy Commissions Booster Compressor, but Production Impacted by Liquids
Why we think this is neutral
The successful commissioning of the new booster compressor at the Saltfleetby Gas Field is a positive development, as it has resulted in an 18% increase in production. However, the company continues to face challenges with liquids buildup and unstable production, which have led to lower gas sales and revenues in the first quarter of 2025. While the company is working to optimize the performance of the field, the ongoing nature of these issues warrants a neutral sentiment score.
Key Points
- New booster compressor successfully commissioned at Saltfleetby Gas Field
- Production from Saltfleetby Field down due to impact of cold weather and liquids buildup
- Oil production from Brockham Field slightly up in Q1 2025
- Estimated revenues for Q1 2025 down 15% compared to Q3 2024
Summary
The energy company has successfully commissioned a new booster compressor, but production remains impacted by liquids buildup, leading to lower gas sales and revenues in the quarter.
Angus Energy, an independent UK onshore oil and gas company, has provided a Q1 2025 production and operations update. The key highlights include:
- The new booster compressor at the Saltfleetby Gas Field was successfully commissioned on 11 April 2025, resulting in an 18% increase in production.
- However, gas sales from the Saltfleetby Field were 4.55 million therms in Q1 2025, down from 5.73 million therms in Q4 2024, due to the impact of cold weather and increasing liquids restricting gas flow.
- Oil production from the Brockham Field was 2,150 barrels in Q1 2025, up slightly from 2,130 barrels in Q4 2024.
- Estimated revenues for Q1 2025 were £5.21 million, down 15% from £6.12 million in Q3 2024 due to lower gas volumes, partially offset by higher gas prices.
Key Dates
June 2025
Legacy hedging volumes roll off
OPERATIONS UPDATE