- Tethys (TPL) has commented on the progress of its production and exploration initiatives
- The KBD-02, KBD-06 and KBD-07 wells are averaging about 400 tons per day
- The KBD-03 well is producing approximately 110 tons per day
- The company is also engaged in well spudding and drilling of development gas wells
- Tethys is an oil and gas exploration and production company active in Central Asia and the Caspian Region
- Tethys (TPL) is unchanged trading at $0.76 per share
Tethys (TPL) has commented on the progress of its production and exploration initiatives.
Production
The KBD-02, KBD-06 and KBD-07 wells are in their trial production phase and are averaging about 400 tons per day.
The KBD-03 well is now in its 90-day production period in the Aptian Zone and is producing approximately 110 tons per day using a 9 mm choke.
Tethys will perform a selective acid treatment on the KBD-08 well as standard practice to stimulate the Jurassic carbonate reservoir.
Exploration
The company spudded the KUL-04 gas well on April 21 and plans to spud the KBD-04 well (previously identified as KBD-09) today.
It is also moving forward with the drilling of four development gas wells in the Kyzloi Field starting with KYZ-113 on May 10.
Normal course issuer bid
As of April 21, Tethys has repurchased 233,860 shares of the 5,377,000 it is approved to acquire by February 7, 2023.
Reserve report
Tethys engaged McDaniel and Associates Consultants to provide a reserve report as of December 31, 2021. It is summarized below:
| Reserve category | Barrel of oil equivalent (net Mbbl) |
| Total proved reserves | 41,873 |
| Total proved and probable | 79,320 |
| Total proved, probable and possible | 126,761 |
| Summary of NPV after taxes ($M U.S. dollars) | ||
| Reserve category | 0.0% | 10.0% |
| Total proved reserves | $492,732 | $297,781 |
| Total proved and probable | $1,050,727 | $533,391 |
| Total proved, probable and possible | $1,770,857 | $806,521 |
Tethys is an oil and gas exploration and production company active in Central Asia and the Caspian Region.
Tethys (TPL) is unchanged trading at $0.76 per share as of 12:31 pm EST.