Novatek Files Preliminary Production Data for 2Q, First Half 2009

Novatek reported preliminary production data for the second quarter and first half 2009.

Gross production for the second quarter totaled 7.67 billion cubic meters of natural gas and 762 thousand tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 161 million cubic meters, or by 2.2%, and gross liquids production increased by 160 thousand tons, or by 26.5%, as compared with the corresponding gross production in the second quarter 2008.

In the first half 2009, gross production for Novatek totaled 15.93 billion cubic meters of natural gas and 1.47 million tons of liquids. Natural gas production increased by 740 million cubic meters, or by 4.9%, whereas gross liquids production increased by 234 thousand tons, or by 18.9% as compared with the corresponding gross production in the first half 2008.

In the second quarter and first half 2009, Novatek processed 711 and 1,367 thousand tons of unstable gas condensate at the Purovsky Gas Condensate Processing Plant.

Eleven tanker shipments were dispatched for export in the second quarter 2009 as compared to seven tanker shipments in the corresponding period 2008. At June 30, 2009, we had 172 thousand tons of stable gas condensate in transit or storage and recognized as inventory until such time as it is delivered to the port of destination.

Novatek's Hydrocarbon Production
2Q 2008 2Q 2009 QoQ% Gross Production 1H 2008 1H 2009 HoH%
7.50 7.67 2.2% Natural gas, bcm 15.19 15.93 4.9%
603 762 26.5% Liquids, mt 1,240 1,474 18.9%


 

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