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JKX Oil & Gas PLC (JKX)

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Tuesday 14 November, 2017

JKX Oil & Gas PLC

October 2017 Monthly Production Report

RNS Number : 3838W
JKX Oil & Gas PLC
14 November 2017
 

 

14 November 2017

JKX Oil & Gas plc

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

October 2017 Monthly Production Report

 

October

2017

September

2017

% Change

10 months to October

2017

10 months to October

2016

% Change

Total production (boepd1)

8,807

8,590

2.5%

8,662

10,130

(14.5)%

Ukraine (boepd)

3,283

3,029

8.4%

3,563

4,008

(11.1)%

- Average gas production (MMcfd2)

15.1

14.3

5.6%

16.2

18.5

(12.4)%

- Average oil and condensate production (boepd)

763

646

18.1%

640

925

(30.8)%

Russia (boepd)

5,502

5,501

0.0%

4,966

6,122

(18.9)%

- Average gas production (MMcfd)

32.6

32.6

0.0%

29.5

36.3

(18.7)%

- Average condensate production (boepd)

65

63

3.2%

55

65

(15.4)%

Hungary (boepd)

23

60

(61.7)%

133

-

100%

- Average gas production (MMcfd)

0.1

0.3

(66.7)%

0.7

-

100%

- Average condensate production (boepd)

2

5

(60.0)%

9

-

100%

 

 

·   Average Group production for October 2017 was 8,807 boepd, a 2.5% month-on-month increase and a 14.5% year-on-year decrease for the first ten months of the year. The year-on-year decrease was largely due to the delayed workover of well 25 in Russia and natural production decline in Ukraine and Hungary.

 

·   In Ukraine, gas production was up by 0.8 MMscf/d while oil production was up by 117 boepd compared to the previous month. This was in part due to the Novonik gas plant shut-down in September for regular maintenance. Optimization of gas compression also contributed to the increase. In addition, following a successful workover, production from M153 increased from 26 to 130 boepd.

 

·   In Russia, gas production remained constant. While the Well 5 workover has experienced delays, we now expect production to re-start in December 2017.

 

·     In Hungary, the workover of Hn-1 is now complete and the well started producing on 25 October. It is currently producing at the rate of 0.7 MMcfd of gas and 12 boepd of condensate. Prior to Hn-1 workover the Hn-2ST well had been shut in on September 26. October production data reflects the monthly average of seven days' production from Hn-1.

 

 

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

 

 

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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