(Alliance News) - JKX Oil & Gas PLC on Wednesday posted a 11% year-on-year rise in first quarter production and said that it continues to monitor the impact of Covid-19 on the company's operations.
The oil & gas company produced 10,996 barrels of oil equivalent per day in the three months to March-end, up from 9,907 barrels a year ago. Production, however, was flat on previous quarter with increase in Russia offsetting decrease in Ukraine.
Production at the company's Ukrainian operations increased 7% year-on-year to 5,361 barrels of oil equivalent per day. Quarter-on-quarter output fell 7%.
The Russian operations saw quarterly production surge 16% quarter-on-quarter to 5,635 barrels of oil equivalent per day. Quarter-on-quarter it increased 7%.
JKX ended the quarter with net cash of USD14.2 million.
Shares in the company closed 5.3% lower at 18.00 pence each in London on Wednesday.
By Tapan Panchal; tapanpanchal@alliancenews.com
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