SOCO International plc Reports Unaudited Production and Revenue Results for the Year Ended December 31, 2016; Provides Production and Capital Expenditure Guidance for the Full Year 2017
For the year 2016, the company announced revenue of $155 million.
For the year 2017, the company's production is presently set to average 8,000 to 9,000 BOEPD.
For the year 2017, the company's capital expenditure is expected to be approximately $50 million to cover the development drilling and infrastructure upgrade on company's existing Vietnam assets, purchase of seismic data for company's new venture Blocks 125 & 126 in Vietnam and PEX bonuses in Africa on MXI.