Volga Gas achieves highest monthly production rate for 2016

September saw oil and gas explorer Volga Gas generate its highest monthly production rate in the year so far.

FTSE AIM All-Share

728.67

15:45 15/11/24

n/a

Oil & Gas Producers

8,043.72

15:45 15/11/24

1.32%

105.17

Volga Gas

23.50p

16:35 13/04/21

0.00%

0.00p

The AIM-listed company, which operates in the Volga region in Russia, reported average September production of 7,927 barrels of oil equivalent per day (boepd), which was 11.9% higher than in August.

This included 31m standard cubic feet per day of gas, 1,742 barrels per day of condensate and 967 barrels of oil per day on average in September.

Between January and August the company produced on average 6,339 barrels of oil equivalent per day.

Shares in Volga Gas were up 1.42% to 48.68p at 1059 BST, while the price of Brent oil fell 0.613% to $50.58 and west Texas intermediate was down 0.805% to $48.42 at 1213 BST.