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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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18 May 2018 - Volga Gas Average April Production Falls By 9% From March Levels
4 May 2018
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VGAS.L News
Volga Gas October Production Rises Due To Completed Maintenance
LONDON (Alliance News) - Volga Gas on Tuesday said its average daily production rose substantially in October, following a Gazprom pipeline maintenanc...
Volga Gas Production Falls In September On Pipeline Maintenance
LONDON (Alliance News) - Volga Gas PLC on Friday said its average daily production decreased in September after it resumed pipeline maintenance progra...
Volga Gas Sees Half-Year Profit Rise On Court Judgement Proceeds
LONDON (Alliance News) - Russia-focused exploration company Volga Gas PLC on Friday said its profit rose in the first half of the year due to court ju...
Volga Gas Production Rises Significantly In August After July Downtime
LONDON (Alliance News) - Oil & gas exploration and production company Volga Gas PLC on Thursday said total production increased from July to August af...
Volga Gas Average Production Down By Third In July On Pipeline Repairs
LONDON (Alliance News) - Volga Gas PLC on Monday said it average daily production was lower in July due to pipeline maintenance.The exploration compan...
Volga Gas Average Production Hits Records In June Following 18% Rise
LONDON (Alliance News) - Volga Gas PLC on Wednesday maintained its guidance despite average production in June significantly exceeding management expe...
Volga Gas Commences Production At Russian Dobrinskoye Plant
LONDON (Alliance News) - Volga Gas PLC said on Friday liquid petroleum gas production has begun at its Dobrinskoye gas processing plant in Russia's Vo...
Volga Gas Average April Production Falls By 9% From March Levels
LONDON (Alliance News) - Oil and gas exploration company Volga Gas PLC said on Friday that its average production for the month of April fell by 9% co...
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