LONDON (Alliance News) - Exillon Energy PLC on Tuesday said average daily production from its Timan-Pechora and West Siberian assets increased in January compared to December 2018.
The Russia-focused oil company achieved average production of 11,216 barrels per day in January, up 4.7% from the 10,717 barrels a day it produced on average in December last year.
Exillon West Siberia production increased slightly to 8,409 barrels per day from 8,365 barrels the month before, while Exillon Timan-Pechora output declined by 0.3% to 2,344 barrels a day from 2,352 barrels.
In December 2018, Exillon entered into a sale and purchase agreement with Prodyline Consultants Ltd, a Cypriot company, to acquire 67% of joint stock company New Pechora Energy Co for USD32 million.
NPEC is engaged in the oil production of the Luzskoye field where, Exillon said, average daily output was 463 barrels a day in January.
Exillon said its total peak daily production improved to 11,663 barrels a day from 11,614 the prior month.
Shares in Exillon Energy were untraded on Tuesday, last closing at 51.00 pence each.