US-focussed Grand Gulf Energy told the market in its March quarterly it is well positioned to continue production at its Desiree and Dugas & Leblanc-3 oil fields in Louisiana, despite the price of Louisiana Light Sweet crude going through the floor.
June contracts trading at US$20/bbl
The company has a 39.65% interest in Desiree and a 55.5% interest in Dugas & Leblanc-3. Total net production was down quarter-on-quarter, at 5,510 barrels, compared to December quarter' s 6631...
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