Nostrum Oil & Gas plc, the parent company of Kazakhstan-based oil producer Zhaikmunai LLP, increased its revenue 23.7% year-on-year in H1 2024 to $65.3 million, the company’s press service said. The revenue growth was driven by additional sales volumes of dry gas and LPG produced from Ural Oil & Gas LLP and $3.9 million of condensate tolling revenue.
EBITDA rose 44% to $22.3 million, mainly due to “increased production and revenues, as well as prudent cost management.” The EBITDA margin grew to 34.2%, form 29.4% a year previously. As of June 30, 2024, Nostrum’s cash balance stood at $142.5 million.
The company also reported a 22% increase in average daily production in the first half of 2024, reaching 12,220 barrels of oil equivalent per day. Nostrum is an independent company engaged in oil and gas production, exploration, and development in the Pre-Caspian basin, with shares listed on the London Stock Exchange.
Source:interfax.com