LONDON (Alliance News) - Exillon Energy PLC Wednesday said monthly production from its operations in Russia fell once again during January, meaning production has fallen on a month-on-month basis since November.
The Russian oil producer said daily production averaged 15,094 barrels of oil a day during January, a drop from the 15,298 barrels being produced daily in December and down from 15,461 barrels a day in November.
The 15,461 barrels of oil per day produced in November was a smidgen higher than what was being produced in October and was the last time Exillon reported a month-on-month rise.
Although production in November was up, it was still down compared to the majority of 2015. Exillon's production experienced rises and falls throughout 2015, with Exillon reporting consecutive monthly falls in the three months ended July.
Peak daily production, which is the company's estimate of the day on which total production reached its highest level, was 15,588 barrels in January compared to 15,777 barrels in December and 15,928 barrels in November.
Production comes from the Exillon Timan-Pechora and Exillon West Siberia regions in Russia.
In January, average production from Timan-Pechora came in at 3,161 barrels per day, falling from 3,262 barrels per day in December and 3,492 barrels a day in November. Average production in the month from West Siberia was 11,933 barrels a day compared to 12,036 barrels a day in December and 11,969 barrels a day in November.
Exillon shares were trading up 4.4% to 72.00 pence per share on Wednesday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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