KRG: Oryx Turns The Corner?

Canada’s Oryx Petroleum announced this week that output from its asset in Iraqi Kurdistan has surged to 10,000 b/d in October. Production at its Hawler license (Oryx 65% op, KNOC 15%, KRG 20%) is booming – relatively speaking – after struggling to break above 3,000 b/d since beginning in 1Q 2015. Geological setbacks have hammered the firm’s growth plans, but it has now set back-to-back quarterly records with 3Q’s 7,200 b/d. The firm is increasingly focusing on the Banan field in the west of the block and plans to begin construction of a pipeline from there to the 40,000 b/d processing facilities to the east at Demir Dagh in 2H 2019. (CONTINUED - 107 WORDS)