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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.
Latest VGAS News
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17 Sep 2013 - Volga Gas releases independent assessment of oil and gas reserves
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2 Dec 2011 - Volga Gas profits soar as output increases
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VGAS.L News
Domino Printing Finance Director sells as company cautions on regional difficulties
The Group Finance Director of Domino Printing sold 72,763 pounds-worth of shares on Tuesday, the same day the company warned investors that market con...
Volga Gas releases independent assessment of oil and gas reserves
Oil and gas production group Volga Gas has completed an independent evaluation of the its oil, gas and condensate reserves by Miller and Lents. The i...
Volga Gas says increased production is 'imminent'
Shares Volga Gas, the oil and gas exploration and production group operating in the Volga Region of Russia, rose on the promise of significantly highe...
Legal & General vice chairman stocks up
Legal & General's vice chairman and senior indepedent director Henry Staunton purchased over £10,000-worth of shares, one month after the firm reporte...
Volga Gas profits soar as output increases
Volga Gas, the oil and gas exploration and production group operating in the Volga Region of Russia, saw profits in the six months to 30 June soar aft...
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