Caracal Energy Inc announced that the first shipment of Badila oil for export sales has been loaded at the Kribi sea terminal offshore Cameroon. Total cargo size of the lifting was approximately 950,000 barrels of oil, and Caracal's net entitlement share was 560,000 barrels of oil. Caracal's partner, GlencoreXtrata plc ("Glencore"), was entitled to the balance of the cargo. Caracal and Glencore joint lift cargos, and Glencore markets the shipments on behalf of the partners.
Ceremonies were held in Kribi and Douala to mark this significant event. In addition to Caracal senior executives, also attending were high ranking officials from the Republic of Chad, senior executives from Société des Hydrocarbures du Tchad (SHT), the Chadian national oil company, COTCO, the operator of the Kribi offshore terminal, and senior representatives of the Pipeline Committee of Cameroon (CPSP).
Gross production from the Badila field during March has averaged 14,100 barrels of oil per day (up from 12,000 bopd on 20 January 2014), and Caracal is on schedule to expand the production processing and shipping facilities during Q3 of 2014.
