Business
Q3 2013: Record Financial and Operational Results
Q3 2013: Record Financial and Operational Results.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 8382R Zhaikmunai LP 31 October 2013 \n\n \n \nQ3 2013: Record Financial and Operational Results\n \n \nAmsterdam, 31 October 2013- Zhaikmunai L.P. (LSE: ZKM) (\"Zhaikmunai\"), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan, today announces record financial results and provides an operational update in respect of its third quarter (Q3) results ended 30th September 2013.\n \n \nRECORD 9M 2013 and Q3 2013 FINANCIAL RESULTS\n \n· Record 9M 2013 total average daily production of 45,414 boepd, an increase of 23.2% compared to the 9M 2012 average of 36,859 boepd, Q3 2013 total average daily production was 43,522 boepd, an increase of 9.0% compared to Q3 2012 average (39,943 boepd);\n· Record 9M 2013 total revenue of US$ 657.2 million, up 25.6% compared to 9M 2012 (US$ 523.2 million). Q3 2013 total revenue of US$ 214.7 up 7.5% compared to Q3 2012 total revenue (US$ 199.8 million);\n· Record 9M 2013 EBITDA expected to be above US$ 390 million (9M 2012: US$ 343.0 million);\n· Total 9M cash position of US$ 223.8 million (including short-term deposits) up 18.1% compared to the end of 9M 2012 (US$ 189.5 million);\n· Total net debt increased slightly to approximately US$ 428.7 million;\n· Net debt to LTM EBITDA ratio remains below 1x at 0.8x.\n \n \nSTRONG OPERATING PERFORMANCE\n \nRecord Production Drives Revenue and EBITDA Higher\n \n· Total average daily production for Q3 2013 was 43,522 boepd, an increase of approximately 9.0% compared to Q3 2012 (39,943 boepd); \n· Scheduled shutdown of Gas Treatment Facility (GTF) was performed within 9 days in September 2013;\n \nThe product split for Q3 2013 was as follows: \n\n\n\n\nPRODUCTS\n\n\nQ3 2013 Average Production\n\n\nQ3 2013 Product Mix %\n\n\n\n\nCrude Oil & Stabilised Condensate \n\n\n18,393 boepd\n\n\n42.3%\n\n\n\n\nLPG (Liquid Petroleum Gas)\n\n\n4,178 boepd\n\n\n9.6%\n\n\n\n\nDry Gas\n\n\n20,950 boepd\n\n\n48.1 %\n\n\n\n\nTOTAL\n\n\n43,522 boepd\n\n\n100%\n\n\n\n\n \nKai-Uwe Kessel, Chief Executive Officer of Zhaikmunai, commented:\n \n\"Zhaikmunai...