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Volga Gas Shares Fall Amid Decrease In January Production
(Alliance News) - Volga Gas PLC on Tuesday said its average daily production from Russian assets declined in January compared to the prior month.
The stock was trading 9.0% lower on Tuesday in London at 27.30 pence each.
The exploration and production company said average output of gas, oil and condensate in January totalled 4,330 barrels of oil equivalent daily, down 3.9% from 4,505 barrels in December.
Volga Gas said the gas plant unit was working without disruption during the month and total output was in line with forecasts.
Gas production and condensate output were 6.7% and 4.3% lower at 11.1 million cubic feet per day and 1,718 barrels per day, respectively, while oil output rose by 9.9% to 487 barrels per day in January.
Liquefied petroleum gas production, meanwhile, slipped by 2.5% to 278 barrels from 285 barrels the prior month.
As at the end of January, the AIM-listed company said it has held cash balances of USD13.8 million, and had no debt.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
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VGAS.L News
Volga Gas Swings To Pretax Profit Following Dobrinskoye Upgrade
LONDON (Alliance News) - Volga Gas PLC Tuesday said it swung to a pretax profit in 2013 as revenues jumped on increased gas prices and operational upg...
DIRECTOR DEALINGS: Volga Gas Non-Executive Sells 50,000 Shares
LONDON (Alliance News) - Volga Gas PLC Thursday said non-executive Director Vladimir Koshcheev sold 50,000 shares at a price of 107.75 pence per share...
UK MIDDAY BRIEFING: UK Inflation Back On Target
LONDON (Alliance News) - The UK inflation rate has fallen back to the Bank of England's 2.0% target for the first time since 2009 after easing unexpec...
Volga Gas pleases with oil production increase
Oil and gas production was 46 per cent higher last year at AIM-listed Volga Gas thanks to a November upgrade to its processing plant. The Russia-foc...
UK WINNERS & LOSERS: Ashmore Group Heaviest Faller In The FTSE 250
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday. ------- FTSE 100 - WIN...
N Brown Group non-exec takes stake in company after share price falls
Simon Patterson, Non-Executive Director of N Brown Group, has taken advantage of the recent decline in its share price to acquire 10,000 shares in the...
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