Bass Oil's latest operations update

Bass Oil (ASX:BAS) has released its operations update for September 2024, detailing activities and performance in the Cooper Basin, Australia, and South Sumatra Basin, Indonesia. The company, known for its strategic relationships and operational strengths, remains debt-free. In September, Bass Oil achieved total sales revenue of US$490,958 and an average daily oil production of 324 barrels.

Key takeaways and future outlook

Bass Oil's September 2024 operations update highlights its robust financial performance and efficient production across its Australian and Indonesian sites. In the Cooper Basin, the Worrior and Padulla oil fields produced 3,008 barrels, with plans to increase output following a scheduled overhaul. The successful Extended Production Test of the Kiwi 1 well indicates promising future production capabilities. In Indonesia, the Tangai-Sukananti oil fields maintained steady production, with ongoing seismic data analysis pointing to further development opportunities. Looking ahead, Bass Oil aims to leverage its operational strengths and strategic partnerships, such as with SLB for the PEL 182 study, to enhance well designs and fracture stimulation. The company continues to explore early production options and permanent infrastructure connections to capitalize on its resource potential.

Executive commentary on operational performance

Bass Oil remains focused on maximizing value through efficient operations and strategic development. The company's commitment to maintaining high uptime and optimizing production units has resulted in strong performance figures for September.