The mandatory shut down to allow for dry dock inspection, repairs and upgrades to the Crystal Ocean and Basker Spirit, was completed the during the quarter. However, after leaving dry dock, a bow thruster on the Crystal Ocean failed during sea trials and continues to be inoperative. The failure of this thruster will increase weather related downtime until repaired. A short dry dock repair is planned for late February and will require an additional shut down totalling 20 days.
Production during the quarter totalled 120,000 barrels (36,000 barrels net to Beach), averaging 3,250 bopd (975 bopd net to Beach) once production was reinstated after the Crystal Ocean returned from dry dock in late November.
Basker-7 is online and currently contributing approximately 500 bopd to production for the field. Optimisation of its production, together with Basker-2 and -3 through the subsea manifold is continuing.
Dispute with BW Offshore
Litigation of the dispute is progressing in the Federal Court.
Regards
SP
ROC Price at posting:
70.5¢ Sentiment: Hold Disclosure: Held
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