August 2017 Monthly Production Report

Released : 11.09.2017 07:00

RNS Number : 2971Q
JKX Oil & Gas PLC
11 September 2017
 

 

11 September 2017

JKX Oil & Gas plc

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

August 2017 Monthly Production Report

 

 

August

2017

July

2017

% Change

8 months to August

2017

8 months to August

2016

% Change

Total production (boepd1)

9,146

8,474

7.9%

8,652

10,216

(15.3)%

Ukraine (boepd)

3,293

3,447

(4.5)%

3,665

4,089

(10.4)%

- Average gas production (MMcfd2)

15.4

16.4

(6.1)%

17.7

18.9

(6.3)%

- Average oil and condensate production (boepd)

721

720

0.1%

719

944

(23.8)%

Russia (boepd)

5,747

4,949

16.1%

4,831

6,127

(21.2)%

- Average gas production (MMcfd)

34.1

29.4

16.0%

28.7

36.4

(21.2)%

- Average condensate production (boepd)

65

55

18.2%

52

65

(20.0)%

Hungary (boepd)

106

78

35.9%

156

-

100%

- Average gas production (MMcfd)

0.6

0.4

50.0%

0.9

-

100%

- Average condensate production (boepd)

8

4

100.0%

10

-

100%

 

 

·    Average Group production for August 2017 was 9,146 boepd, a 7.9% month-on-month increase and a 15.3% year-on-year decrease for the first eight months of the year. The year-on-year decrease was largely due to the delayed workover of well 25 in Russia

 

·    In Ukraine gas production was down by 1 MMscfd month-on-month mainly due to a drop in the monthly average gas production of 0.7 MMscf/d in NN22. The well was not flowing consistently and has been put on batch production.

 

·    In Russia, gas production was higher than in July due to increased contribution of Well 25. The well is currently producing at the rate of 10.3 MMscf/d. Well 27 was also acidized on the 5th August which contributed to the increase in gas production in August. We have also commenced the workover of Well 5.

 

·   In Hungary, gas production increased modestly through August after improvements were made to the water handling equipment and process.

 

·     In August 2017, the Company paid the convertible bond interest of $1.1million.

 

 

1boepd - Barrels of oil equivalent per day

2MMcfd - Million cubic feet 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

Victor Gladun, Acting Chief Executive 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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