JKX Oil & Gas PLC April 2017 Monthly Production Report (1839F)
May 16 2017 - 2:00AM
UK Regulatory
TIDMJKX
RNS Number : 1839F
JKX Oil & Gas PLC
16 May 2017
16 May 2017
JKX Oil & Gas plc
("JKX", the "Company" or the "Group")
April 2017 Monthly Production Report
April March % Change 4 months 4 months % Change
2017 2017 to April to April
2017 2016
-------------------------- ------ ------ --------- ---------- ---------- ---------
Total production
(boepd(1) ) 7,800 8,405 (7.2)% 9,027 10,356 (12.8)%
-------------------------- ------ ------ --------- ---------- ---------- ---------
Ukraine (boepd) 3,561 3,534 0.8% 3,828 4,030 (5.0)%
- Average gas production
(MMcfd(2) ) 17.0 17.3 (1.7)% 18.7 19.2 (2.6)%
- Average oil and
condensate production
(boepd) 727 650 11.8% 720 827 (12.9)%
-------------------------- ------ ------ --------- ---------- ---------- ---------
Russia (boepd) 4,023 4,568 (11.9)% 4,996 6,326 (21.0)%
- Average gas production
(MMcfd) 23.8 27.1 (12.2)% 29.6 37.5 (21.1)%
- Average condensate
production (boepd) 51 48 6.3% 55 68 (19.1)%
-------------------------- ------ ------ --------- ---------- ---------- ---------
Hungary (boepd) 216 303 (28.7)% 203 - 100%
- Average gas production
(MMcfd) 1.2 1.7 (29.4)% 1.1 - 100%
- Average condensate
production (boepd) 10 22 (54.5)% 14 - 100%
-------------------------- ------ ------ --------- ---------- ---------- ---------
-- Average Group production for April 2017 was 7,800 boepd, a
7.2% month-on-month decrease and a 12.8% year-on-year decrease for
the first four months of the year, largely due to a planned
workover in Russia.
-- In Ukraine, gas production was stable as natural decline was
offset by well EM53 on our Elyzavetivske field which came online on
22(nd) of April at 1.5 MMscf/d before stabilising at 1.3 MMscf/d on
a 48/64(th) " choke. The well is currently being tested but should
provide a material contribution to production in May. Oil
production increases were mainly attributed to the removal of a
blockage in M153 in the Movchanivske field. The well came online on
the 7(th) April, having been offline for all of March, averaging 93
boepd for the remainder of the month.
-- In the Rudenkivske field, 6R had 17 metres of perforations
added in the final days of April. Initial production has been
encouraging with a rate of 8 MMscf/d on a 48/64(th) " choke with a
WHP(3) of 1540 psig, before declining to 5.4 MMscf/d on the same
choke with a WHP of 840 psig after 4 days. This well will make a
sizable contribution to our May production volumes.
-- In Russia, gas production is lower due to the shut-in of Well
25 due to a planned workover. At the end of April there were delays
in the workover due to a fire on the workover rig. The fire was
limited to the rig itself and was promptly put out by the rig crew
without any injuries. The rig operator is currently sourcing the
replacement parts but despite the unplanned delay, we do not expect
a material impact of this event on revenues and production. We will
provide an update in the next month's production report.
(1) boepd - Barrels of oil equivalent per day
(2) MMcfd - Million cubic feet per day
(3) WHP - Well head pressure
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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