Nostrum Oil & Gas plc Announces Operational Results for the Fourth Quarter and Twelve Months Ended December 31, 2016; Announces Net Debt Results as At December 31, 2016; Provides Revenue Guidance for the Year Ending December 31, 2016; Provides Operational Guidance for the Year 2017, 2018 and 2019
For the year, the company reported average daily production of 40,351 boepd.
The company announced that revenue to be expected in excess of USD 340 million for fiscal 2016.
The company announced that net debt was approximately USD 860 million as at 31 December 2016.
The company provided operational guidance for the year 2017, 2018 and 2019. For the year 2017, the company expects production to be average above 44,000 boepd and exit rate between 50,000 boepd and 60,000 boepd.
For the year 2018, the company expects production to be between 50,000 boepd and 80,000 boepd.
For the year 2019, the company expects production to be between 80,000 boepd and 100,000 boepd.