StockMarketWire.com - Russia-focused Volga Gas said it had boosted production volumes in the first four months of the year.

Output for the four months through April averaged 5,859 barrels of oil equivalent per day, up from 4,010 boepd on-year.

The realised prices for oil and condensate net of sales expenses averaged $39.36 per barrel over the same time period.

Production in the first four months of 2019 is in line with management's expectation of average production for the full year 2019 of 5,900 boepd, in spite of planned maintenance shut downs in the gas processing plant during April,' the company said.

'The increase, compared to the equivalent period in 2018, is primarily due to higher processing capacity at the gas plant and the addition of production of LPG, both of which came into effect from May 2018.'




At 9:37am: [LON:VGAS] Volga Gas PLC share price was +4p at 83.5p



Story provided by StockMarketWire.com