Business
3rd Quarter Results
3rd Quarter Results.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n RNS Number : 0584Y Zhaikmunai LP 16 December 2010 \n \n\nZhaikmunai L.P.\n(the \"Company\") \n \n \nZhaikmunai LP - EBITDA FIRST NINE MONTHS UP TO US$ 71.24 MM \n(+86.3 % YoY)\n \nLondon - 16 December 2010 - Zhaikmunai LP (LSE: ZKM) (\"Zhaikmunai\"), the oil and gas exploration and production business based in northwestern Kazakhstan, today announces its full financial results for the three and nine months ended 30 September 2010.\nTHIRD QUARTER SUMMARY\nAll figures in US$ millions unless otherwise stated\n\n\n\n\n\n\n\nQ3 2010\n\n\nQ3 2009\n\n\nChange YoY\n\n\n\n\nRevenues from oil sales\n\n\n53.126\n\n\n32.750\n\n\n+62.2%\n\n\n\n\nEBITDA\n\n\n26.027\n\n\n20.377\n\n\n+27.7%\n\n\n\n\nNet income\n\n\n10.636\n\n\n(357)\n\n\n\n\n\n\n\nProduction (bopd)\n\n\n8,972\n\n\n6,979\n\n\n+28.6%\n\n\n\n\nDebt\n\n\n381.677\n\n\n381.677\n\n\nUnch.\n\n\n\n\nAverage Realised oil price (US$ per bbl)\n\n\n78.64\n\n\n71.67\n\n\n+9.7%\n\n\n\n\nDiscount (US$ per bbl)\n\n\n12.24\n\n\n14.91\n\n\n-17.9%\n\n\n\n\nWeighted average netback (US$ per bbl)\n\n\n66.40\n\n\n56.76\n\n\n+17.0%\n\n\n\n\n \nNINE MONTHS ENDED 30 SEPTEMBER 2010 SUMMARY\nAll figures in US$ millions unless otherwise stated\n\n\n\n\n\n\n\n9M 2010\n\n\n9M 2009\n\n\nChange YoY\n\n\n\n\nRevenues from oil sales\n\n\n127.780\n\n\n77.430\n\n\n+65.0%\n\n\n\n\nEBITDA\n\n\n71.238\n\n\n38.234\n\n\n+86.3%\n\n\n\n\nNet income\n\n\n30.213\n\n\n(20.458)\n\n\n\n\n\n\n\nProduction (bopd)\n\n\n7,683\n\n\n7,239\n\n\n+6.1%\n\n\n\n\nDebt\n\n\n381.677\n\n\n381.677\n\n\nUnch.\n\n\n\n\nAverage Realised oil price (US$ per bbl)\n\n\n78.33\n\n\n57.42\n\n\n+36.4%\n\n\n\n\nDiscount (US$ per bbl)\n\n\n13.44\n\n\n15.29\n\n\n-12.1%\n\n\n\n\nWeighted average netback (US$ per bbl)\n\n\n64.89\n\n\n42.11\n\n\n+54.1%\n\n\n\n\n \n \n \nFINANCIAL HIGHLIGHTS\nRevenue\nThe company has realized higher netback prices as the Brent price recovered to a level above US$ 80 per barrel late in the third quarter. Zhaikmunai was also able to reduce its discount thanks to better rail tariffs and further diversification in its customer base. In July 2010, Zhaikmunai made its first shipment of crude oil through the Black Sea port of Feodosia (Ukraine). A total of 233,444 bbl was transported by rail to Feodosia and sold loaded on a tanker on a Free on Board (FOB-sale) basis. \n \nCost o...