Russian-focused oil producer Exillon Energy has been boosted after seeing its second quarter output rise – and expects further increases once its new processing facility is online.
The company, which has operations in Timan-Pechora and Western Siberia, saw peak production hit 17,719 barrels of oil equivalent per day, while the average production hit 16,627 boed in September.
Average daily production across 16,643bpd for the quarter, up from 15,737 the previous quarter.
Expansion work is now underway at the company’s oil treatment facility, which will almost double the amount the Siberian installation can process.
“We expected production to reach between 18,000 and 19,000 bpd once the ongoing upgrade to our oil processing facility was completed,” the company said.
“Recent drilling results allow us to reiterate that we expect to meet or exceed the higher end of this range.”
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