Nostrum Oil & Gas Reduced Average Daily Hydrocarbon Production by a Quarter in January-September
Average daily production of Nostrum Oil & Gas Plc in January-September 2023 amounted to 10.288 thousand barrels of oil equivalent (boe), the company said.
For the same period in 2022, average daily production was 13,684 thousand boe. Thus, this year this figure decreased by 24.8%.
The oil company’s average daily sales volumes for 9 months of 2023 decreased by 28.8%, to 9,096 thousand boe.
Nostrum Oil & Gas expects revenue for January-September 2023 to exceed $88 million. For the same period in 2022, the company’s revenue was $155.5 million.
“The decrease in revenue compared to 9 months of 2022 is due to relatively lower average prices for products (the average price of Brent oil was $81.9 per barrel for 9 months of 2023 versus $102.5 per barrel for 9 months of 2022) and a decrease in production “, the message says.
Nostrum Oil & Gas Plc is an independent company engaged in oil and gas production, as well as exploration and development of oil and gas fields in the Caspian basin.
