BAKU, Azerbaijan, August 16. Revenues of Kazakhstan-based Nostrum Oil & Gas company have amounted to $107.8 million over 1H2020, which is an increase compared to $92.3 million during the same period last year, Trend reports citing the company.
The increase was observed against average realised Brent oil price of $104.7/bbl ($65.2/bbl during the 1H2021).
Furthermore, company’s earnings before interest, taxes, depreciation and amortization (EBITDA) stood at $68.8 million against the $52.8 million during 1H2021 with EBITDA margin of 63.8 percent (57.2 percent in 1H2021).
Closing unrestricted cash as at June 30, 2022 was $208.7 million ($180.8 million as at March 31, 2021). A total of $22.7 million remains held in a restricted account as at June 30, 2022.
Continued focus on cost optimisation to help manage company’s liquidity, the company said.
The company is also targeting $45.5 million for operating and general and administrative expenses for 2022 fiscal year.
Nostrum Oil & Gas PLC is an independent oil and gas company currently engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin.
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