JKX Oil & Gas PLC March 2017 Monthly Production Report (1302C)
April 11 2017 - 2:01AM
UK Regulatory
TIDMJKX
RNS Number : 1302C
JKX Oil & Gas PLC
11 April 2017
11 April 2017
JKX Oil & Gas plc
("JKX", the "Company" or the "Group")
March 2017 Monthly Production Report
March February % Change 3 months 3 months % Change
2017 2017 to March to March
2017 2016
-------------------------- ------ --------- --------- ---------- ---------- ---------
Total production
(boepd(1) ) 8,405 9,801 (14.2)% 9,436 10,249 (7.9)%
-------------------------- ------ --------- --------- ---------- ---------- ---------
Ukraine (boepd) 3,534 3,854 (8.3)% 3,917 3,891 0.7%
- Average gas production
(MMcfd(2) ) 17.3 19.0 (8.9)% 19.2 19.2 0.0%
- Average oil and
condensate production
(boepd) 650 682 (4.7)% 718 690 4.1%
-------------------------- ------ --------- --------- ---------- ---------- ---------
Russia (boepd) 4,568 5,643 (19.1)% 5,320 6,357 (16.3)%
- Average gas production
(MMcfd) 27.1 33.5 (19.1)% 31.6 37.7 (16.2)%
- Average condensate
production (boepd) 48 59 (18.6)% 56 68 (17.6)%
-------------------------- ------ --------- --------- ---------- ---------- ---------
Hungary (boepd) 307 308 (0.3)% 199 - 100%
- Average gas production
(MMcfd) 1.7 1.7 0.0% 1.1 - 100%
- Average condensate
production (boepd) 24 25 (4.0)% 15 - 100%
-------------------------- ------ --------- --------- ---------- ---------- ---------
-- Average Group production for March 2017 was 8,405 boepd, a
14.2% month-on-month decrease. Production declines occurred in
Ukraine and Russia, while Hungarian production remained stable.
-- In Ukraine, gas and liquids production decreases against
February were primarily driven by the decline of wells NN47 and
NN16 at the Rudenkivske field. The monthly average production rate
of NN47 declined from 2.4 to 1.1 MMcfd. NN16 declined from 0.8 to
0.5 MMcfd. Other production losses were attributed to M153, which
was offline throughout March due a blockage, and resulted in a loss
of 23 bpd of oil and 0.2 MMcfd of gas compared to the February
monthly average.
-- No production enhancements were carried out in March while
preparation for a well stimulation program at the Rudenkovskoye
field continues. We have signed a contract with Schlumberger to
stimulate 11 wells with multiple zones in the second and third
quarter of this year.
-- In Russia, gas production is lower due to the preparation of
Well 25 for a planned workover. This well contributed 10.1 MMcfd
during February and was closed in for rig-up on the 5 March 2017.
Increased production from other wells partly compensated the loss
of Well 25.
(1) boepd - Barrels of oil equivalent per day
(2) MMcfd - Million cubic feet per day
(3) MD - Measured depth
(4) stb - standard tank barrel
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
END
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