Prospex Energy Temporarily Shuts Down Viura Gas Field Operations

 

Prospex Energy PLC (LSE:PXEN) has temporarily suspended operations at the Viura gas field following the detection of a leak in the completion tubing of the Viura-1B well. The field operator, HEYCO Energia Iberia S.L., is currently preparing for a workover operation, with production expected to resume by mid-June 2025.

This operational pause has shifted the timeline for drilling new development wells, which are now scheduled for 2026. While the delay may impact near-term expansion plans, it provides Prospex with additional time to enhance cash flow from its existing portfolio. This improved liquidity could lessen the company’s reliance on external capital in the near future.

Despite the temporary setback, Prospex maintains confidence in the operator’s ability to resolve the issue efficiently and capitalize on future development opportunities.

About Prospex Energy

Prospex Energy PLC is a London-listed investment firm specializing in onshore and nearshore energy projects across Europe. The company targets undervalued assets with the potential for rapid development—typically within a year of acquisition. Its strategy focuses on cost-effective re-evaluation methods to de-risk opportunities and accelerate gas production, generating internal capital for ongoing growth.

Key Metrics

• Year-to-Date Share Performance: -15.75%

• Average Daily Volume: 867,464 shares

• Technical Sentiment: Buy

• Market Capitalization: £24.76 million

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