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Nostrum provides operational update for the nine months ended 30 September 2015


Published Oct 28, 2015
Nostrum Oil & Gas LP-2

Nostrum Oil & Gas announces its operational update for the nine month period ended 30 September 2015. This update is being issued in advance of the release of its audited and consolidated accounts for the same period, which will be released on 24 November 2015. The information contained in this update remains subject to review by the independent auditors.

Highlights:

Operational •Average daily production for first 9 months in 2015 of 44,042 boepd •GTU3 construction progressing with completion expected on time and on budget before the end of 2016 •On track for 2015 drilling target to complete 8 wells (6 production and 2 appraisal) •2015 production guidance of 40,000-42,000 boepd, reduced from 45,000 boepd due to unexpected repair work carried out by Intergas Central Asia (ICA) on the export pipeline operated by ICA that is used by Nostrum to transport its gas. The duration of this repair work by ICA extended beyond the completion of Nostrum's regular scheduled GTU maintenance, resulting in lower forecasted production for October and reduced guidance for 2015. The repair work is now complete and production is back to normal levels. 2016 production guidance remains at approximately 45,000 boepd

Tags: Nostrum Oil & Gas LP




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