- Decklar (DKL) has begun shipping crude oil to market from its Oza Oil Field in Nigeria
- The company will restart its Oza-1 well to keep stockpiles up for continuous shipments
- The news marks Decklar’s shift toward full-time production heralding improvements to future cash flows
- Decklar Resources is an oil and gas company focused on opportunities in the West African region
- Decklar (DKL) is up by 9.62 per cent trading at $0.57 per share
Decklar (DKL) has begun shipping crude oil to market from its Oza Oil Field in Nigeria.
The oil is destined for the Umugini Pipeline Infrastructure Limited crude handling facilities, where it will be transferred to the Shell Petroleum Development Company of Nigeria Limited joint venture Forcados Oil Export Terminal.
Storage tanks at Oza hold approximately 22,000 barrels of oil. When loading reaches 5,000 barrels, the Oza-1 well will be restarted to enable ongoing shipments.
Throughout 2022, the company plans on building a new oil well drilling pad, drilling new development wells, installing a central production facility and re-testing the existing Oza-2 and Oza-4 wells.
“We are very pleased to announce the start of crude oil loading operations at the Oza Field, which will soon lead to the company’s first delivery of oil to market,” stated Duncan Blount, Decklar’s CEO. “This brings the company to the brink of the significant milestone of commencing full-time commercial production and the transformation of Decklar into a producing and cash flowing company.”
Decklar Resources is an oil and gas company focused on opportunities in the West African region.
Decklar (DKL) is up by 9.62 per cent trading at $0.57 per share as of 11:40 am EST.