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Nostrum Oil & Gas PLC - Amsterdam-headquartered oil and gas company with operations in Kazakhstan - Earns higher revenue in the quarter ended March 31 than a year ago. Revenue rises to $60.2 million from $46.2 million a year ago. Daily sales volumes averaged 14,059 barrels of oil equivalent per barrel, down from 17,419 a year ago. Revenue higher despite lower sales volumes as average realised Brent price jumps to $97.9 per barrel from $61.8 within the year.
Daily production after treatment shrinks to a daily average of 14,683 barrels of oil equivalent per barrel from 19,341 a year ago.
Group expects to complete restructuring process by the third quarter, which virtually all of shares cast voted for on April 29. On May 11, it launched a scheme of arrangement via issuing of practice statement letter to scheme creditors to implement proposed financial restructuring, as contemplated in the lock-up agreement with regards to the 8.0% senior notes due July 2022 and 7.0% senior notes due February 2025, issued by Nostrum Oil & Finance BV.
Current stock price: 6.04 pence, down 8.2% on Tuesday
12-month change: down 52%
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