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Highlights:
- Nostra Terra (OTC:NTOGF) confirms increased oil production at Pine Mills.
- Three wells return online as part of workover program.
- Cashflow positive at both corporate and operational levels.
The oil and gas industry plays a crucial role in global energy markets, with companies focused on increasing production efficiency to meet growing demands. For smaller operators, the ability to manage assets effectively and deliver consistent output is essential to maintaining operational viability. Nostra Terra Oil and Gas Company PLC, a small-cap player in the sector, has been making significant strides in enhancing production at its Pine Mills asset in Texas, a region that has seen notable operational improvements in recent months.
Production Increase at Pine Mills
Nostra Terra's efforts at Pine Mills have led to a notable increase in oil production levels. The company reported that production currently averages 120 barrels of oil per day (bopd), up from the previous average of 90 bopd. This increase follows a series of workovers and well reactivations aimed at improving production output. Notably, the average production rate in December was 80 bopd, showing a 60% increase over previous levels. These efforts reflect the company’s focus on optimizing its assets for improved performance.
Successful Workover Programme
A key factor behind this production boost is Nostra Terra’s workover programme. The company has carried out a phase of workovers and well reactivations, which have successfully restored the Pine Mills waterflood pressure to levels seen before the shut-in period. This restoration has helped stabilize the production rate and improve overall well productivity. With three wells now back online, Nostra Terra is seeing tangible results from its efforts to enhance operations and maximize output.
Financial Position and Future Outlook
Beyond the operational improvements, Nostra Terra has confirmed that it remains cashflow positive at both the corporate and operational levels. The company’s ongoing workover programme, which entered Phase 2 in January 2025, is expected to continue driving production growth. As part of this phase, the first well of 2025 was returned to production on January 20. The successful reactivation of wells and restoration of pressure in the field’s northern section underscores the company’s progress in revitalizing its assets.
In a recent statement, Nostra Terra’s CEO, Paul Welch, expressed confidence in the company’s approach to the Pine Mills asset. He noted that the focus on this area is delivering value, and he anticipates further production increases as the workover programme advances. With continued progress, the company believes it is positioned for further growth in 2025, as the rewards of these operational improvements begin to materialize.
Nostra Terra’s strategic focus on its Pine Mills asset and the ongoing efforts to enhance production underscore the company’s commitment to operational efficiency and value creation.
