Volga Gas plc: Production Report for February 2020
Volga Gas plc, the oil and gas exploration and production group operating in the Volga Region of Russia, is pleased to provide the following update on its average production volumes for February 2020.
Production Report
The average production in February 2020 was 4,208 barrels of oil equivalent per day (3% lower than January 2020). The gas plant unit was working without disruption during the month.
Average production comprised:
February 2020 Average | January 2020 Average | Jan-February 2019 Average | |
Gas: | 10.8 mmcfd | 11.1 mmcfd | 10.9 mmcfd |
Condensate | 1,679 bpd | 1,718 bpd | 1,699 bpd |
Oil | 477 bpd | 487 bpd | 482 bpd |
LPG | 260 bpd | 278 bpd | 270 bpd |
Total | 4,208 boepd | 4,330 boepd | 4,271 boepd |
Production data is based on preliminary monthly production reports prepared for the purposes of submissions to tax authorities for Mineral Extraction Tax purposes. Final monthly production reports may vary marginally from preliminary monthly production reports.
As at 29 February, the Group held cash balances of US$ 13.6 million, and has no debt.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
