Business
Financial Results for 9M ending 30 September 2017
Financial Results for 9M ending 30 September 2017.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 0384X Nostrum Oil & Gas PLC 21 November 2017 \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 \nDisclosure of inside information in accordance with Article 17 of Regulation (EU) 596/2014 (16 April 2014) relating to Nostrum Oil & Gas PLC and Zhaikmunai LLP\n \nAmsterdam, 21 November 2017\n \n \nFinancial Results for the Nine Months ended 30 September 2017\n \nNostrum Oil & Gas PLC (LSE: NOG) (\"Nostrum\", or \"the Company\"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces its financial results in respect of the nine-month period ending 30 September 2017. \n \nHighlights from the nine months to 30 September 2017: \n \nFinancial\n· Revenue of US$303.7 million (9M 2016: US$245.1 million)\n· Net operating cash flows1 of US$135.2 million (9M 2016: US$132.5 million)\n \n· EBITDA2 of US$171.5 million (9M 2016: US$142.6 million)\n \n· EBITDA margin of 56.5% (9M 2016: 58.2%) \n· Transport/boe cost reduced to US$4.8/bbl (9M 2016: US$5.2/bbl)\n· Closing cash3 for the period of US$144.4 million (H1 2017: US$97.5 million)\n \n· Total debt of US$1,056.9 million and net debt of US$912.6 million as at 30 September 2017\n \nOperational\n· Average daily production for the nine-month period ending 30 September 2017 was 44,879 boepd \n· Average daily sales volumes for the nine-month period ending 30 September 2017 was 39,600 boepd\n· 44 wells currently producing at the Chinarevskoye field - 23 oil wells and 21 gas condensate wells\n· Construction of the third Gas Treatment Unit (\"GTU3\") is expected to be completed in April 2018 \n \n________________________ \n \n1 IFRS term based on indirect cash flow method\n2 Defined as profit before tax net of finance costs, foreign exchange loss/gain, ESOP, depreciation, interest income, oth...