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Nostrum Oil & Gas ( (GB:NOG) ) just unveiled an update.
Nostrum Oil & Gas reported a drop in 2025 revenue to US$118 million and lower EBITDA as natural decline at its Chinarevskoye field and weaker Brent prices outweighed cost control and growing third-party processing volumes. Despite higher processed and sales volumes, net debt rose to US$541.5 million due to capitalised interest and fair value amortisation, though the company stressed that delayed coupon payments stem from administrative issues rather than liquidity constraints.
Operationally, Nostrum increased average daily processed volumes by more than 23%, supported by ramped-up Ural O&G feedstock and targeted workovers, and successfully brought a new Chinarevskoye well onstream under a limited drilling programme. A renewed long-term processing agreement with Ural O&G to 2031 underpins stable cash flows and utilisation of its facilities, while the company advances strategic reviews of the Chinarevskoye and Stepnoy Leopard fields and guides 2026 Chinarevskoye output at 5,000–6,000 boepd amid a continued focus on safety and ESG performance.
The most recent analyst rating on (GB:NOG) stock is a Hold with a £4.00 price target. To see the full list of analyst forecasts on Nostrum Oil & Gas stock, see the GB:NOG Stock Forecast page.
Spark’s Take on NOG Stock
According to Spark, TipRanks’ AI Analyst, NOG is a Neutral.
The score is held down primarily by weak financial performance (declining revenue, large net losses, and a highly leveraged balance sheet with negative equity) and limited valuation support due to losses. Technical indicators are neutral-to-slightly positive, providing only modest offset.
To see Spark’s full report on NOG stock, click here.
More about Nostrum Oil & Gas
Nostrum Oil & Gas is an independent energy company operating gas processing infrastructure and an export hub in north-west Kazakhstan. The group focuses on producing and processing hydrocarbons from its Chinarevskoye field and developing the Stepnoy Leopard fields, while also monetising excess capacity through third-party processing, notably for Ural Oil & Gas.
Average Trading Volume: 227,234
Technical Sentiment Signal: Sell
Current Market Cap: £2.47M
See more data about NOG stock on TipRanks’ Stock Analysis page.

