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
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.
How to build your own ‘pot for life’ pension with a SIPP
Advice You don’t need to wait for ‘pot to life’ rules to take control of your retirement fund
By Marc Shoffman Published
Protect what matters with bespoke insurance
Your life is unique, so is standard home insurance really designed to meet your needs? NFU Mutual’s Bespoke Home Insurance is designed to be tailored to your unique circumstances.
By MoneyWeek Published