January 28, 2020 / 7:58 AM / 23 days ago

Nostrum suspends drilling for 2020, expects lower production

Jan 28 (Reuters) - Nostrum Oil & Gas said on Tuesday it decided to halt all drilling in 2020 after results from studies conducted last year showed production from some of its wells would remain challenging.

The oil and gas explorer had 46 wells in production at the end of last year.

It expects average sales volumes of 19,000 barrels of oil equivalent per day (boepd) and production of 20,000 boepd for 2020, lower than its 2019 sales volumes of 26,617 boepd and production of 28,587 boepd. (Reporting by Shanima A in Bengaluru; Editing by Subhranshu Sahu)

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