Business
FY Results for the Year Ending 31 December 2017
FY Results for the Year Ending 31 December 2017.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 0324J Nostrum Oil & Gas PLC 27 March 2018 \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 \n \nAmsterdam, 27 March 2018\n \nFull Year Results for the Year Ending 31 December 2017\n \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 full year financial results for the twelve months ending 31 December 2017, together with the 2017 Annual Report for Nostrum and its subsidiaries taken as a whole (\"the Group\").\n \n2017 Financial and Operational highlights of the Group:\n \nFinancial\n· Revenue of US$405.5 million (2016: US$348.0 million)\n· EBITDA1 of US$232.0 million (2016: US$194.0 million)\n· EBITDA margin of 57.2% (2016: 55.7%) \n· Net operating cash flows2 of US$182.8 million (2016: US$202.1 million)\n· Closing cash3 for the period of US$127.0 million (2017: US$101.1 million) \n· Net debt of US$960.9 million (2016: US$857.9 million) \n· Total debt of US$1,087.9 million (2016: US$959.1 million)\n· Net debt / EBITDA ratio of 4.1x (2016: 4.4x)\n· Operating costs of US$4.1/bbl (2016: US$3.7/bbl) \n· Transport/boe cost reduced to US$4.8/bbl (2016: US$5.3/bbl)\n· Nostrum pushed outstanding debt maturities to 2022 through a successful refinancing campaign\n· New hedging agreement entered into in January 2018 equal to 9,000 boepd with a put strike price of US$60.0 until 31 December 2018\n \nOperational\n· 2017 average daily sales volumes of 37,844 boepd (2016: 39,043 boepd)\n· 2017 average production after treatment of 39,199 boepd (2016: 40,351 boepd)\n· Construction of the third Gas Treatment Unit (\"GTU3\") continues and is expected to be completed in 2018 \n· KazTransOil (\"...