4th Mar 2020 14:15
(Alliance News) - Oil producer Exillon Energy PLC on Wednesday said its production edged higher in January.
The Russia-focused firm reported average production of 12,501 barrels of oil per day, up 1.5% from 12,314 barrels per day in December.
At its assets in the Timan-Pechora region of Russia, output slipped 2.3% month-on-month to 2,182 barrels of oil per day, from 2,234.
There was growth from its West Siberia assets, however, with output up 2.5% to 9,857 barrels per day from 9,457 reported in December.
Peak daily production was 2.9% higher at 13,170 barrels per day from 12,804 barrels a day from December.
Shares in Exillon Energy are currently suspended, as it is yet to release its annual results for 2018.
At the end of October, the company had proposed the cancellation of its shares from Main Market trading in London. It needs the approval of at least 75% of shareholders at an upcoming extraordinary general meeting vote.
By Eric Cunha; [email protected]
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