OREANDA-NEWS. OGX’s average oil and natural gas production for May 2013 reached 18.2 thousand barrels of oil equivalent per day (boepd). Of this amount, 6.8 thousand boepd corresponds to the offshore average production at Tubarao Azul Field, in the Campos Basin, and 11.4 thousand boepd (1.8 million m3 per day) to OGX’s share of the average production of natural gas at the onshore Gaviao Real Field, in the Parnaiba Basin. Overall for May 2013, total offshore production was 209,296 barrels of oil equivalent and total onshore production was 120.5 million m3 of natural gas.

Offshore Production

Production at the Tubarao Azul Field was impacted by the following factors:

(i) OGX-26HP: the well produced throughout the month of May;

(ii) OGX-68HP: the well produced for 11 days during the month of May. The repair of OGX-68HP well’s electrical submersible pump (ESP) commenced in mid-April and was concluded in mid-May;

(iii) TBAZ-1HP: the well did not produce in April and May due to operational issues in March that interrupted its production. OGX’s technical team will decide when the repair of TBAZ-1HP well’s ESP will commence based on the production of OGX-26HP and OGX-68HP. TBAZ-1HP’s production will remain interrupted until the repair of its ESP.

Considering the effective production days, the average offshore productivity per well was 5.0 thousand boepd in May.

Onshore Production

Total average production at the Gaviao Real Field was 3.9 million m3 per day (1.8 million m2 net to OGX), with four turbines operating at the Thermo Power Plant I throughout the month of May.