Angus Energy PLC (AIM:ANGS), a UK-based oil and gas company, announced the successful commissioning of a new booster compressor at its Saltfleetby Gas Field on April 11, 2025. The addition of this new compressor has resulted in an 18% increase in production when compared to early March figures, contributing positively to the field’s output.
In its first-quarter production update, the company reported that the Saltfleetby Field produced 411 million standard cubic feet of natural gas and 7,381 barrels of gas condensate during the first quarter of 2025. Gas sales during this period amounted to 4.55 million therms. While this marks a decrease from the 5.73 million therms sold in the fourth quarter of 2024, the company attributes this decline to cold weather impacts and liquid loading in the wells. The newly installed compressor is expected to alleviate these challenges by reducing well head pressures and improving gas flow rates, helping to stabilize production.
The operational efficiency at the Saltfleetby Field stood at 90% for the quarter, slightly down from 94% in the prior quarter. Meanwhile, the Brockham Field saw an improvement, with operational efficiency increasing to 98%, and production amounted to 2,150 barrels of crude oil.
Despite the lower gas volumes, Angus Energy’s estimated revenues for the first quarter of 2025 were £5.32 million, a 15% decrease from £6.12 million in the previous quarter. However, the company noted that higher gas prices during the winter months partially offset the decline in production. Additionally, legacy hedging volumes will continue at 1.25 million therms per month until June 2025.
This update highlights Angus Energy’s ongoing efforts to improve operational efficiency and expand its onshore production capabilities. The company is also focusing on diversifying its operations internationally as part of its long-term growth strategy.