Saratoga Resources Resumes Full Production and Product Sales
Posted on: Monday, 22 September 2008, 09:00 CDT
Saratoga Resources, an independent exploration and production company, has announced that approximately 98% of its producing properties have resumed full production and product sales following hurricane Ike.
Saratoga previously said that production on, and product sales from, select properties was not expected to resume for seven to 10 days due to hurricane-related damage to third party processing and pipeline facilities.
Thomas Cooke, chairman and CEO of Saratoga Resources, said: "With most of our oil production going uninterrupted into our storage facilities we will have minimal lost revenue impact for the month. It will take us several days to pump off the more than 7,000 barrels we have ready for sale coupled with the approximately 1,550 barrels we produce daily."
Source: Datamonitor
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