29th Aug 2025 20:04
(Alliance News) - Nostrum Oil & Gas PLC on Friday reported a slight increase in earnings in the first half of 2025, as lower operating costs per barrel helped offset a drop in revenue.
Shares in the oil and gas exploration and production company which operates in Kazakhstan closed up 22% at 3.98 pence each in London on Friday.
Earnings before interest, tax, depreciation and amortisation edged up to USD22.4 million in the six months to June 30 with an Ebitda margin of 35.0% compared to USD22.3 million and 34.2% a year ago.
This reflected a stable operational and financial performance, despite relatively weaker product prices and the continuing decline of production from the mature Chinarevskoye field.
Revenue declined to USD64.1 million from USD65.3 million with increases in titled production and processed volumes from Ural Oil & Gas LLP feedstock and Chinarevskoye well workovers offset by the natural decline in Chinarevskoye field production and a 16% average Brent crude oil price reduction.
Aiding the bottom line a 41% drop in operating expenses per barrel of processed volumes to USD4.40 from USD7.60.
Operating cashflow improved to USD6.2 million from USD4.2 million, despite being adversely impacted by a high level of sales receivables due to the timing of shipments of crude oil and condensate. Net debt increased to USD473.1 million as at June 30 from USD440.2 million at the end of 2024.
Looking ahead, Nostrum Oil & Gas said it remains focused on "maximising facility uptime, controlling costs wherever possible, and improving efficiencies across all facets of business".
By Jeremy Cutler, Alliance News reporter
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