May 2017 Monthly Production Report

Released : 13.06.2017 07:00

RNS Number : 8720H
JKX Oil & Gas PLC
13 June 2017
 

 

13 June 2017

JKX Oil & Gas plc

("JKX", the "Company" or the "Group")

May 2017 Monthly Production Report

 

May

2017

April

2017

% Change

5 months to May

2017

5 months to May

2016

% Change

Total production (boepd1)

7,847

7,800

0.6%

8,721

10,317

(15.5)%

Ukraine (boepd)

3,837

3,561

7.8%

3,768

4,107

(8.3)%

- Average gas production (MMcfd2)

18.6

17.0

9.4%

18.6

19.2

(3.1)%

- Average oil and condensate production (boepd)

744

727

2.3%

663

901

(26.4)%

Russia (boepd)

3,860

4,023

(4.1)%

4,761

6,210

(23.3)%

- Average gas production (MMcfd)

22.9

23.8

(3.8)%

28.3

36.9

(23.3)%

- Average condensate production (boepd)

44

51

(13.7)%

51

66

(22.7)%

Hungary (boepd)

150

216

(30.6)%

192

-

100%

- Average gas production (MMcfd)

0.9

1.2

(25.0)%

1.1

-

100%

- Average condensate production (boepd)

5

10

(50.0)%

12

-

100%

 

·   Average Group production for May 2017 was 7,847 boepd, a 0.6% month-on-month increase and a 15.5% year-on-year decrease for the first five months of the year, largely due to a planned workover in Russia, partly compensated by increased production in Ukraine as a result of the successful enhancement programme. 

 

·   In Ukraine, gas production increased due to pre-stimulation gas production from 6R in Rudenkivske and a complete month of production from EM53 in Elizavetivske. Oil production increase was due to the installation of an ESP in IG128 which increased the well's average oil production from 38 stb/d3 to 132 stb/d.

 

·    In Russia, gas production is lower than April due to the absence of an acid job on Well 27 in May but with an acid job planned in the first half of June. The workover on Well 25 is now expected to recommence on 15th June 2017.

 

1boepd - Barrels of oil equivalent per day

2MMcfd - Million cubic feet per day

3stb/d - standard tank barrel per day

 

 

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

 

ENDS

JKX Oil & Gas plc                              +44 (0) 20 7323 4464

Russell Hoare, Chief Financial Officer

 

Stockdale Securities                         +44 (0) 20 7601 6100

Robert Finlay, Daniel Harris

 

EM Communications                         +44 (0) 20 3709 5711

Stuart Leasor, Jeroen van de Crommenacker


This information is provided by RNS
The company news service from the London Stock Exchange
 
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