April 7, 2011 / 11:47 AM / 9 years ago

UPDATE 1-Bankers Petroleum's key Albanian oilfield output jumps in Q1

* Q1 Patos-Marinza production jumps 44 pct to 11,894 bopd

* Says current production 13,500 bopd

April 7 (Reuters) - Canada’s Bankers Petroleum Ltd’s first-quarter production from the Patos-Marinza oilfield in Albania rose 44 percent.

The Calgary, Alberta-based oil and gas company reported 11,894 barrels of oil per day (bopd) from the oilfield in the quarter, compared with 8,282 bopd last year.

The company also said total average production in the period was 12,147 bopd.

Bankers Petroleum has a deal with state-owned Albpetrol Sh.A since June 2004 to takeover and re-activate 120-130 wells every year in Albania.

The Patos-Marinza oilfield’s first-quarter average oil price was $68.06 per barrel. In the quarter, Nymex light crude futures CLc1 jumped past $100 a barrel.

The company also said the current production rate exceeds 13,500 bopd.

Shares of the company closed at C$8.36 on Wednesday on the Toronto Stock Exchange.

Reporting by Aftab Ahmed in Bangalore; Editing by Maju Samuel

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