North Sea oil firm Xcite Energy (LON:XEL) was the sector's biggest riser after it revealed that its pre-production flow test is progressing well.
It said the planned shut-in period and pressure build-up test began today (11 July) following the initial, successful, clean-up and first oil flow on 9 July.
This planned shut-in period and pressure build-up test is designed to obtain key information about the Bentley reservoir and the mobility of its fluids for use in interpreting the subsequent flow data and for planning the next step of the Bentley field development.
Following this build-up test, the flow test will continue as planned.
Xcite Energy's shares were up by more than 17% in late afternon trading.
The sector's only other double-digit riser was Lansdowne Oil & Gas (LON:LOGP) - up by more than 11%
Mediterranean Oil & Gas (LON:MOG) reported that the offshore Guendalina gas field achieved production (net to MOG 20% WI) of 10.93 million scm in the second quarter, in line with the company's expectations.
This represents net production by the company of 120,000 scm/day.
In addition, the company's onshore Italy gas fields achieved production of 2.38 million scm (net) in the second quarter. This represents net production to the Company of 26,000 scm/day.
The onshore production was approximately 14,000 scm/day lower than expected due to maintenance on the surface production facilities relating to one of the assets. The Company plans to complete the maintenance work during the third quarter.
Total revenues attributable to the company's onshore and offshore gas production in the second quarter amounted to â?¬4.2m (Q1 2012: â?¬4.2m).
The sector's biggest fallers were Gasol (LON:GAS) and Global Petroleum (LON:GBP) - down by nearly 7% and more than 5.6% respectively.
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