Volga Gas plc Provides Drilling Update; Announces Preliminary Production Results for the Month and Year to Date May 2019; Provides Production Guidance for 2019
The company also announced preliminary average production volumes for the month and year to date ended May 2019. For the month, the company's average production was 4,221 barrels of oil equivalent per day, 9% lower than April 2019. The decline in production was due to Gazprom pipeline maintenance which resulted in lower gas processing capacity during the month. From 1 June 2019, capacity has started to gradually resume to normal levels.
For the year to date period, the company's average production was 5,523 barrels of oil equivalent per day.
For 2019, the company's expectation remains unchanged and for production to average 5,900 boe per day including LPG volumes.