10th Dec 2015 08:54
LONDON (Alliance News) - Exillon Energy PLC Thursday said production improved month-on-month during November, but monthly production levels are down compared to the majority of 2015.
The Russia-based oil company said average daily production in November came in at 15,461 barrels of oil, which is a touch higher than the 15,437 barrels produced per day in October.
In the three months ended July, Exillon reported consecutive months of production falls, with July production averaging 15,732 barrels per day before a rise in August to 15,962 barrels and a drop again in September to 15,660 barrels.
Breaking that down, average daily production from the Timan-Pechora field came in at 3,942 barrels during November, up from 3,398 barrels in October whilst production from West Siberia fell month-on-month to 11,969 barrels from 12,039 barrels.
That was the first time production from West Siberia fell below 12,000 barrels a day in 2015, with production from the field being above 14,000 barrels a day in early 2015 before, suggesting production has slowly been falling from the asset throughout the year.
Exillon produced peak daily production of 15,982 barrels of oil in November, up from October but also down from earlier months.
Peak daily production in August and September was 16,213 barrels and 16,311 barrels, respectively, but peak production in November was slightly higher than the 15,947 barrels of peak daily oil production in October.
Exillon shares were down 1.8% to 105.25 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
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