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Volga Gas (LON:VGAS.L) report: Operational Update – production
November 4, 2010, Thursday, 19:32 GMT | 15:32 EST | 00:02 IST | 02:32 SGT
By Daniel Stewart & Co
- Q3 production averaged 1,376b/d up from 832b/d in Q2. Prices also increase from $31.09/b to 32.19/b in the same timeframe
- Production at Uzenskoye was disrupted in Q2 because of abnorma weather in the region making the roads unusable
- One of the five wells at Uzenskoye has been take off production and will be converted to a water injector
- The company plans one new development well in H1 2011
- An extended well test Vostochny Makarovskoye ahs been carried out to check for pressure build and to determine optimal full time production
- 2011 CAPEX is estimated at $8.5m. The company ahs $25m chas as of 1 November 2011
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