Nighthawk Energy said its revenue for 2015 are likely to be “significantly higher” than market expectations, despite production dropping from the previous year.
The US-focused independent said gross production for 2015 was around 654,800 barrels in total, down from 706,319 barrels in 2014.
The company said the decline was primarily due to a natural rate of decline on its existing wells, offset by the results from its behind pipe and solvent treatment programmes.
Despite reduced production Nighthawk expects revenue for the year to the end of December will be outstrip expectations.