Business
Financial Results for 2Q and 6M ended 30 June 2024
Financial Results for 2Q and 6M ended 30 June 2024.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n\n \n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION\n \nFOR IMMEDIATE RELEASE\n \n \nLondon, 20 August 2024\n \n \nFinancial Results for the second quarter and six months ended 30 June 2024\n \nNostrum Oil & Gas PLC (LSE: NOG) (\"Nostrum\", or the \"Company\" and together with its subsidiaries, the \"Group\"), an independent mixed-asset energy company with world-class gas processing facilities and export hub in north-west Kazakhstan, today announces its financial results for the second quarter and six months ended 30 June 2024 (\"H1 2024\").\n \nNostrum's management team will present the H1 2024 results and will be available for a Q&A session with analysts and investors today, 20 August 2024, at 2pm UK time. If you would like to participate in this call, please register by following the instructions provided in this link: Results Call\n \n \nArfan Khan, Chief Executive Officer of Nostrum Oil & Gas, commented:\n \n\"I am pleased to share the Group's results for H1 2024. We delivered solid operational and financial performance during this period, while also reaching key milestones that are strategically important for the Company's transformation into a mixed-asset energy company.\n \nAn increase of 44% in EBITDA for the first half of 2024, compared to the same period last year, along with a net positive operating cash flow during this period, highlights the successful initial results of the Company's new strategy, which includes processing third-party hydrocarbons from neighbouring Ural Oil & Gas LLP.\n \nIn April we announced our final investment decision for the initial development phase of the Stepnoy Leopard Fields, followed by the release of the Stepnoy Leopard Competent Person's Report in July, which added 110 mmboe net to Nostrum's 2P reserves base, at an estimated NPV10 of approximately US$220 million.\n \nAs always, health and safety remain our priority, as we focus on operational excellence and continue managing our liquidity to maximise value for all our investors and stakeholders.\"\n \n \nH1 2024 Highlights:\n \nFinancial\n\n\n\n\n· \n\n\...