02:00 Wed 02 Sep 2020
Volga Gas PLC - PRODUCTION & DRILLING UPDATE REPORT FOR AUGUST 20
2 September 2020
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PRODUCTION & DRILLING UPDATE REPORT FOR AUGUST 2020
Production Report
The average production in
Average production comprised:
|
Average |
Average |
Jan- Average |
Gas: |
8.9 mmcfd |
7.6 mmcfd |
8.7 mmcfd |
Condensate |
2,111 bpd |
1,786 bpd |
1,567 bpd |
Oil |
565 bpd |
416 bpd |
493 bpd |
LPG |
162 bpd |
113 bpd |
175 bpd |
Total |
4,317 boepd |
3,590 boepd |
3,685 boepd |
Production data is based preliminary on monthly production reports prepared for submissions to the tax authorities for Mineral Extraction Tax purposes. Final monthly production reports may vary marginally from preliminary monthly production reports.
As at
Pricing update
Domestic pricing for oil & LPG were slightly reduced in RUR and further impacted with local currency devaluation. Average pricing was:
Pricing ex VAT, USD |
Average |
Average |
Jan- Average |
Exchange Rate (RUR/USD) |
73.7998 |
71.2853 |
70.1772 |
Gas price per mcf |
1.75 |
1.81 |
1.84 |
Condensate price per bbl |
27.02 |
25.95 |
26.80 |
Oil price per bbl |
32.59 |
34.70 |
31.44 |
LPG price per bbl |
32.45 |
36.70 |
25.42 |
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information, please contact:
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+7 (903) 385 9889 +7 (905) 381 4377 +44 (0) 7824 884 342 |
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+44 (0) 20 3470 0470 |
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FTI Consulting |
+44 (0) 20 3727 1000 |
Alex Beagley, |
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Notes
The information contained in this announcement has been reviewed and verified by Mr.
The Company records production in metric tonnes (for oil and condensate) and in cubic meters (for gas). Conversions from metric to standard oil field units are used for illustrative purposes only and are based on the Company's estimate of the applicable ratios. The ratios used are 7.833 barrels per tonne for oil and 8.75 barrels per tonne for condensate and 11.735 barrels per tonne for LPG. Gas volumes are translated using 35.3 cubic feet per cubic meter and 6,000 cubic feet per barrel of oil equivalent.
Glossary
bpd Barrels per day
boepd Barrels of oil equivalent per day
mmcfd Millions of standard cubic feet per day
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