Alliance Jumps as Tomsk Unit, Repsol Venture Start Gas Output
Alliance climbed as much as 4.6 percent, the biggest intraday gain since Feb. 21, and traded up 4 percent at 53.60 kronor at 12:43 p.m. in Stockholm.
March total output rose to an average 62,304 barrels of oil equivalent a day. That is a 20 percent increase from 51,982 barrels a day in January, the company said in a statement today.
Oil output expanded 2.4 percent to 53,214 barrels a day, while natural gas added 9,090 barrels a day from zero in January, according to a statement.
Repsol SA (REP) and Alliance formed the A&R Oil and Gas BV venture this year. In March, the venture announced the start of gas output in Siberia. Separately, Alliance started gas production in Tomsk in February.
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