Russia-focused oil producer Exillon Energy produced an average of 11,785 barrels per day during March, better than average output the month before but still well off its full-year target.
The company is focused on two regions, Timan-Pechora (Exillo TP) and West Siberia (Exillon WS), which produced 3,261 bbl/day and 8,525 bbl/day, respectively.
Total average produced was 11,584 bbl/day in February.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
On the day when production reached its maximum in March, peak daily production was reported as 12,177 barrels.
Last month, the compared pushed back its 17,000 barrels-a-day production target from June 2012 to the end of the year. "This delay has been caused by a number of operational difficulties, including slower than expected mobilisation of rigs," the company said in its 2011 full-year results.
The group is planning on drilling a total of 23 wells across both projects in 2012.
BC
-
A junior ISA could turn your child’s pocket money into thousands of poundsPersuading your child to put their pocket money in a junior ISA might be difficult, but the pennies could quickly grow into pounds – and teach them a valuable lesson about money
-
Cost of Christmas dinner jumps 6.5% as grocery price inflation rises againThe average Christmas dinner for four now costs £32.57 as grocery price inflation increases - but what does it mean for interest rates?
