February 2017 Monthly Production Report

Released : 14.03.2017 07:00

RNS Number : 3350Z
JKX Oil & Gas PLC
14 March 2017
 

 

14 March 2017

JKX Oil & Gas plc

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

February 2017 Monthly Production Report

February

2017

January

2017

% Change

2 months to February

2017

2 months to February

2016

% Change

Total production (boepd1)

9,801

10,136

(3.3)%

9,977

9,926

0.5%

Ukraine (boepd)

3,854

4,357

(11.5)%

4,118

3,921

5.0%

- Average gas production (MMcfd2)

19.03

21.2

(10.2)%

20.2

19.5

3.6%

- Average oil and condensate production (boepd)

682

818

(16.6)%

754

677

11.4%

Russia (boepd)

5,643

5,779

(2.4)%

5,715

6,005

(4.8)%

- Average gas production (MMcfd)

33.5

34.3

(2.3)%

33.9

35.6

(4.8)%

- Average condensate production (boepd)

59

61

(3.3)%

60

64

(6.3)%

Hungary (boepd)

304

-

100%

144

-

100%

- Average gas production (MMcfd)

1.7

-

100%

0.79

-

100%

- Average condensate production (boepd)

25

-

100%

12

-

100%

 

·     Production in the first two months of the year is up by 0.5% compared with 2016 with increased flows in Ukraine and the resumption of Hungarian production, after more than 3 years, compensating for lower production in Russia

 

·     Average Group production for February 2017 was 9,801 boepd, a 3.3% month-on-month decrease, with lower Ukrainian and Russian production being partly compensated by the commencement of production in Hungary.

 

·     In Ukraine, gas and liquids production decreases against January were driven by the decline of well NN47 at the Rudenkivske field which, following a workover in late December 2016, produced a total of 66 million cubic feet of gas and 2,682 stb4 of condensate (compared to 138 MMcf and 5,786 stb in January).

 

·     Ukrainian production was also lower due to workover rigs being prepared at wells 19R and 10R for the upcoming stimulation program, meaning a break in the ongoing enhancement program.

 

·     In Russia, gas production fell with a delay in the routine acid job on Well 27 due to the requirement to replace the BOP.

 

·     In Hungary, gas sales from the Hajdunanas field commenced on 2 February 2017 at an initial rate of 1.8 MMcfd and averaged at 1.7 MMcfd through the remainder of the month. In addition a total of 702 stb of condensate was produced in Hungary in February. Year-to-date 2017 production in Hungary was averaged over 2 months of 2017 despite contributing to the Group production only for 27 days. 

 

1boepd - Barrels of oil equivalent per day

2MMcfd - Million cubic feet per day

3MD - Measured depth

4stb - Standard barrels (stock tank barrels)

 

 

 

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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