15th Dec 2015 15:17
LONDON (Alliance News) - Regal Petroleum PLC on Tuesday said the workover of the SV-6 well at its Mekhediviska-Golotvshinska and Svyrydivske gas and condensate fields in Ukraine were successful.
The oil and gas exploration and production company said three intervals in the B-21 Visean formation and five intervals in the B-22 Visean formation were perforated and "good gas flow" was recorded during initial testing.
"The well was hooked up to the gas processing facility at the end of November 2015, and since then production testing was undertaken using a variety of choke sizes and operating modes," Regal said.
"The well has now been put on production and is producing at approximately 55,000 cubic metres per day of gas and eight cubic metres per day of condensate," the company added. That is 394 barrels of oil equivalent per day in total.
With the inclusion of the production from the SV-6 well, average production from the company's Mekhediviska-Golotvshinska and Svyrydivske licences during December has been about 190,000 cubic metres per day of gas, 45 cubic metres per day of condensate and 21 cubic metres per day of liquefied petroleum gas. That is 1,564 barrels of oil equivalent per day in total.
Shares in Regal were untraded on Tuesday afternoon. The stock closed at 3.48 pence Monday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
RPT.L