Fletcher Energy boosted

Friday 26th January 2001

Oil and gas producer Fletcher Energy has announced an increase of 5% in the barrels of oil equivalent it produced in the three months to December.

Gas production from its Canada wells was up 7% over the corresponding period in the previous year while oil production from Canada was up 8%.

There was good news from Fletcher Energy's Maui field. Oil production from Maui increased 49% over the June quarter following production from the Maui BD oil development project.

Pohokura Reserves were revised upward as a result of detailed analysis of data obtained from the Pohokura 1 and 2 wells, the company said.

FCL, the subject of a joint takeover offer from Shell and Apache Corporation, was trading at $8.93 on Thursday.

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