Exillon Energy (EXI) produced second-quarter output figures broadly in line with market expectations, although the Russia-focused driller will need to accelerate its production ramp-up through the second half of this year in order to meet its annual growth target of 4,000-6,000 barrels of oil per day (bopd).
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Exillon hit a peak production rate of 17,013 bopd during May, which helped to drive average monthly production to 15,513 barrels during the first half, or 2,627 barrels in advance of last year's monthly average. The company failed to provide any explanation as to the relatively sedate first-half expansion, but it's probably linked to the record number of well workovers completed during the March quarter.
