FX Energy Begins Production at Komorze-3 Well

FX Energy Inc. (NASDAQ:FXEN) announced that it has started production at the Komorze-3 well, located at its Poland-based Fences concession. Currently, its production rate sits at 1.1 million cubic feet of gas per day.

As quoted in the press release:

The next well to be connected to the Lisewo facility will be the Lisewo-2 well. First production from Lisewo-2 is expected in the third quarter of 2014.  Production from the Szymanowice-1 well, the Company’s most recent discovery, is planned to commence through this facility in early 2015. Both of these wells were completed for production in December 2013.

All four of these wells are located in the Fences concession where the Polish Oil and Gas Company (PGNiG) is the operator and owns 51% of the working interest; FX Energy owns 49%.

David Pierce, president of FX Energy, commented:

With the additional production from Komorze-3, our Company-wide net production is now approximately 14 million cubic feet of gas equivalent per day, with two more wells yet to come on line. Gas prices remain strong in Poland and with our increased production we are better able to fund a growing exploration and development program.  Following last year’s record capital spending, we expect to have another robust exploration program this year, including up to four wells in the Fences concession and up to three wells in our Edge and Block 246 Concessions.

Click here to read the full FX Energy Inc. (NASDAQ:FXEN) press release.