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Sunday, September 24 2017 @ 04:26 AM AST

Robust profit possible at current oil prices

An oil company in Trinidad and Tobago that filed for bankruptcy not long ago said it got "very robust consolidated operating netback" in the first half of the year, which is jargon to say it is profiting on each barrel, although it may not actually post a Net Profit, as it still carries baggage from its bankruptcy days.


SOURCE: Trinity Exploration & Production plc, August 9, 2017

Trinity Exploration & Production plc also announced last week it sold its West Coast assets Brighton Marine (BM) and Point Ligoure-Guapo Bay-Brighton Marine (PGB) offshore Trinidad for US$4.55 million. The producing assets put out approximately 200 barrels of oil per day (bopd).

Chinese-run Range Resources Ltd bought the assets.

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