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LONDON (Alliance News) - Nostrum Oil & Gas PLC said Tuesday it expects revenue for the first half of the year to be "in excess" of USD190 million, a figure lower than what it registered a year prior.
Shares were trading up 8.8% at 203.00 pence each.
For the first half of 2017, the company posted revenue of USD210 million, with Nostrum not saying whether the USD190 million or more revenue figure for the first half of 2018 would be close to, or above, that figure.
The oil & gas company said average sales volumes in the first half of 2018 stood at 29,886 barrels of oil equivalent per day, compared to 46,685 barrels of oil per day a year before.
Nostrum added as at July 30, average sales volumes are "in excess" of 32,000 barrels of oil equivalent per day, which is the expected average level of sales volumes for the rest of the year.
The company said it expects total debt to not exceed USD1.12 billion and net debt to not go higher than USD1.00 billion as at June 30.