6th Apr 2016 08:14
LONDON (Alliance News) - Exillon Energy PLC Wednesday said production from its two oilfields in Russia rose in March, the first time the company has seen an increase since November.
Exillon said it produced an average of 14,968 barrels a day in March, up from 14,660 barrels in February, when it reported production had fallen for the the fourth consecutive month.
However, production for March still came in lower than the 15,094 barrels in January, 15,298 barrels in December and 15,461 barrels in November, which was the last month to see a rise.
Exillon said production from the Timan-Pechora field in March averaged 3,218 barrels a day, up from 3,040 barrels in February whilst average daily production from the West Siberia field rose to 11,750 barrels from 11,620 barrels the month before.
Peak daily production in March, which is the company's estimate of the day on which total production reached its highest level, was 15,512 barrels of oil per day, up from 14,970 barrels in February. This was, however, still below the 15,588 barrels seen in January, the 15,777 barrels in December and the 15,928 barrels in November.
Shares in Exillon were flat at 70.00 pence on Wednesday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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