Volga Gas Seeks Buyer
The owners of London-listed Volga Gas have received a number of non-binding offers for the company since launching a strategic review in early April, the south Russia-focused producer said on June 26.
"The board is now engaged in ongoing discussions with some of these parties about the sale of the company, or its entire business and assets, and aims to conclude negotiations on or before September 30 2020," Volga said in a stock filing.
Moscow-based Renaissance Capital is acting as Volga's financial advisor. The company, which operates fields in Russia's Volga-Urals region, produced 3,661 boe/d of hydrogens in the first five months of this year, including 9.3mn ft3/d of gas.