Parkmead, the independent energy group, is pleased to announce the commencement of gas production from its new LDS-01 discovery in the Netherlands.
The LDS-01 structure was successfully drilled around the end of 2022. The well has been tied into the neighbouring commercial gas production infrastructure in just a few weeks, demonstrating again the operational efficiency of Parkmead’s low-cost assets onshore the Netherlands, where operating costs are less than $9 per barrel equivalent.
This new discovery is in its initial clean up period, and early flow rates suggest that Parkmead will benefit from a material increase in daily net production.
We look forward to updating shareholders with further information in due course.
About Parkmead
The Parkmead Group is a UK and Netherlands focused independent energy group listed on AIM at the London Stock Exchange (AIM: PMG). The Group produces natural gas from a portfolio of four fields across the Netherlands and holds significant additional oil and gas interests across the UK and Dutch sectors. Parkmead also 100% owns and operates the Kempstone Hill wind energy company, producing electricity direct to the UK grid. This is in addition to a range of complementary renewable energy opportunities throughout the Group.