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Nostrum revenues fall 45% in 2020
StockMarketWire.com
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Nostrum Oil & Gas suffered a 45% fall in revenues in 2020, from $322.1 million to $175 million.
As of 31 December, the mining and exploration company had $78 million in cash which was down from $93.9 million in 2019.
Despite this, production was up in 2020.
Average daily production after treatment for 2020 totalled 22,337 boepd with average daily sales volumes for the year of 21,514 boepd.
This compares to production and sales guidance of 21,000 boepd and 20,000 boepd, respectively.
Covid-19 has been identified as the main concern for the company but as of yet has not impacted production.
At 1:47pm: (LON:NOG) Nostrum Oil Gas Plc share price was 0p at 9.57p
Story provided by StockMarketWire.com
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