Nostrum Oil & Gas issues nine-month ops update

Nostrum Oil & Gas announces its operational update for the nine-month period to Sept. 30.


– 9M 2016 average daily production of 38,901 boepd

– Current production above 44,000 boepd

– Full year 2016 production guidance remains at 40,000 boepd

– GTU3 construction is progressing on schedule for completion in 2017 and on budget at under US$500m

– KazTransOil (KTO) pipeline due for completion by Q2 2017 and will bring significant cost reductions for crude oil transportation

– Drilling programme for 2016 completed and all new wells brought on line by the start of Q4

– 9M 2016 revenue is expected to be in excess of US$240m

– Cash position in excess of US$100m

– Total debt remains at US$960m and net debt of approximately US$860m as at 30 September 2016

– Payments in excess of US$27m received over the first nine months of 2016 from the hedge entered into in December 2015

– 15,000 boepd hedged at US$49.16 through to December 2017.

Story provided by

66% off newsstand price

12 issues (and much more) for just £12

That’s right. We’ll give you 12 issues of MoneyWeek magazine, complete access to our exclusive web articles, our latest wealth building reports and videos as well as our subscriber-only email… for just £12.

That’s just £1 per week for Britain’s best-selling financial magazine.

Click here to take advantage of our offer

Britain is leaving the European Union. Donald Trump is reducing America’s role in global markets. Both will have profound consequences for you as an investor.

MoneyWeek analyses the critical issues facing British investors on a weekly basis. And, unlike other publications, we provide you with the solutions to help you turn a situation to your financial advantage.

Take up our offer today, and we’ll send you three of our most important investment reports:

All three of these reports are yours when you take up our 12 issues for £12 offer today.

MoneyWeek has been advising private British investors on what to do with their money since 2000. Our calls over that period have enabled our readers to both make and save a great deal of money – hence our position as the UK’s most-trusted investment publication.

Click here to subscribe for just £12