17th Mar 2014 12:58
LONDON (Alliance News) - JKX Oil & Gas PLC Monday said it has completed its second development well in the Elizavetovskoye field in Ukraine.
The eastern Europe-focused oil and gas exploration and development company said the E-302 well is now in production at a stabilised rate of 6.2 million cubic feet per day of gas and 14 barrels per day of condensate with a flowing wellhead pressure of 760 pounds per square inch.
The well was drilled to a depth of 3,156 metres.
The company said the next well on the field, E-304, will target the deeper G sands and drilling is planned for the third quarter of this year.
JKX Oil & Gas has licence interests in Ukraine, Russia, Hungary and Slovakia.
Shares in the exploration and production company were trading 3.1% higher Monday at 64.44 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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