Volga Gas Sees Output Dip Further in Aug
Volga Gas, a junior producer operating in Russia’s Volga-Urals basin, registered a further decline in output in August as a result of lower yields at its East-Makarovskoye gas field.
Output of oil, gas and condensate averaged 4,388 boe/day in the month, down 10% compared with July, the company said in a message on September 2. Production of gas was down 14% at 14.3mn ft3/day, while production of condensate dropped 8.5% to 1,354 b/day. LPG output also fell 9.8% to 249 b/day, although oil extraction increased by 9.7% to 394 b/day.
Moving forward, the company said it had adopted a “more conservative production policy”, with output expected to average 2,830 boe/day during the remainder of 2019, indicating a full-year guidance of 4,400 boe/day.
Volga Gas blamed the output slump in August on lower production at East-Makarovskoye, without elaborating. It also saw decline in July, which it attributed to maintenance and high levels of water cut at the field.