Zargon Oil & Gas Ltd. announced production results for the fourth quarter 2018. For the quarter, the company reported production averaged 1,786 barrels of oil equivalent per day, a 26% decline from the fourth quarter 2017 rate of 2,416 barrels of oil equivalent per day. Oil and liquids production averaged 1,575 barrels per day, and compares to rates of 1,680 barrels of oil and liquids per day in the preceding quarter and 1,924 barrels of oil and liquids per day in the fourth quarter of 2017. Natural gas production averaged 1.27 million cubic feet per day, and compares to rates of 1.64 million cubic feet per day in the preceding quarter and 2.95 million cubic feet per day in the fourth quarter of 2017.

For the year, the company reported production averaged 2,069 barrels of oil equivalent per day, and was comprised of 1,751 barrels of oil and liquids per day and 1.91 million cubic feet per day of natural gas.

For the first half 2019, the company expected production to average approximately 1,800 barrels of oil equivalent per day, which is comprised of 1,585 barrels of oil and liquids per day and 1.30 million cubic feet of natural gas per day.