LONDON (ShareCast) - Trinidad and Tobago-focused oil group Trinity said that average production rates declined slightly in its first quarter.

Net production averaged 3,978 barrels of oil equivalent per day (boepd) in the first three months of the year, down from the 4,210 boepd rate registered in the fourth quarter.

In the East Coast region, where production averaged 1,287 bopd, the company said drilling of its B-9X infill/exploration well has been affected by the repeated failure of one of the two mud pumps. This will need to be replaced following completion of the well.

Production averaged 2,153 bopd onshore, while West Coast production was 547 bopd.

"Trinity's focus is on completing the B-9X infill well at the Trintes field. This has delivered very encouraging results to date although progress of the well has been hampered by the mud pump issue which we are addressing,” said Chief Executive Joel Pemberton.

“We are excited by the work being carried out by the TGAL development team as we continue at pace to select an innovative and value driven concept for the TGAL field development."

BC

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