Cabot Energy Plc announced production results for the month of April and first quarter of 2018. Production during April has averaged approximately 950 bopd. An additional 100 bopd is currently shut in due to pump repair work and production optimisation on two wells and the replacement of a pipeline section identified by the ILI Programme. These issues are expected to be remedied during the second quarter of this year. The 03-02 well, tested and recompleted, is expected to produce later in April at an initial rate of 100 bopd.

Production during the first quarter, which averaged 725 bopd, was reduced by the ILI Programme and the temporary halt in production of a high rate well which required a casing repair. These items accounted for a loss of approximately 130 bopd of production, all of which should return by the end of the second quarter.

The Company remains on track to meet its full year exit production rate of 1,600 bopd to 2,000 bopd and average production guidance of 1,000 bopd to 1,200 bopd.

The company expects additional 200 bopd expected to be on production during second quarter of 2018.