Cue Energy Resources Limited (AU:CUE) has released an update.
Cue Energy Resources Limited has announced the Indonesian regulator’s approval for Phase 2 of the PB field development in the Mahato PSC, which includes drilling 14 new oil wells. Commencing with the first well, the full development is expected to take 12-18 months, with the goal of boosting the currently active 22 wells’ production beyond 6,000 barrels per day. This expansion is part of Cue Energy’s strategy to optimize its core assets and enhance production revenue.
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