Nostrum Oil & Gas (GB:NOG) has released an update.
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Nostrum Oil & Gas has reported a significant improvement in revenue and EBITDA for the third quarter of 2024, despite challenges with declining production at its Chinarevskoye field. The company’s strategic focus on processing third-party hydrocarbons has led to a 14% increase in revenue and a 34% rise in average daily production. These results underscore Nostrum’s efforts to optimize its facilities and expand its gas-lift system, contributing to its positive cash flow and financial stability.
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