Angus Energy plc (AIM:ANGS) said Saltfleetby returned to full production on 10 February after coiled‑tubing workovers on wells B2 and B7, with post‑workover rates approximately 30% higher than before interventions; the field produced 471 million standard cubic feet of gas and 10,180 barrels of condensate in the quarter.
Gas sales for Q1 were 5.24 million therms versus 4.98 million therms in Q4 2025. Average monthly sales rose to 1.75 million therms (Q4: 1.66m) and condensate averaged 111 barrels per day, up about 32% on the prior quarter. Operational efficiency was 87% (Q4 2025: 94%), reflecting planned well shut‑ins to accommodate the workovers.
Total oil production from Brockham was 4,114 barrels (46 bpd), broadly in line with the prior period, and the group is preparing to restart BRX4z targeting the Portland reservoir.
Estimated revenues for the quarter were £5.24 million (Q4 2025: £4.12m), a c.28% increase driven by higher realised gas prices, volumes and improved hedging.
"Upon execution, the proposed restructuring is expected to materially strengthen the Group's balance sheet, enhance liquidity, and establish a more sustainable long-term capital structure." Angus Energy (LSE:ANGS) added:
Trading in the company's shares on AIM will remain suspended pending conclusion of the financial restructuring; the group is targeting completion and execution of definitive agreements in the coming weeks.
