15th Feb 2017 07:00
15 February 2017
JKX Oil & Gas plc
("JKX", the "Company" or the "Group")
January 2017 Monthly Production Report
January 2017 | December2016 | % Change | January 2017 | January 2016 | % Change | |
Total production (boepd1) | 10,136 | 9,954 | 1.8% | 10,136 | 10,616 | (4.5)% |
Ukraine (boepd) | 4,356 | 3,840 | 13.4% | 4,356 | 3,964 | 9.9% |
- Average gas production (MMcfd2) | 21.2 | 18.5 | 14.6% | 21.2 | 19.7 | 7.6% |
- Average oil and condensate production (boepd) | 818 | 761 | 7.5% | 818 | 681 | 20.1% |
Russia (boepd) | 5,779 | 6,114 | (5.5)% | 5,779 | 6,653 | (13.1)% |
- Average gas production (MMcfd) | 34.3 | 36.3 | (5.5)% | 34.3 | 39.5 | (13.2)% |
- Average condensate production (boepd) | 61 | 65 | (6.2)% | 61 | 72 | (15.3)% |
Summary
· Average Group production for January 2017 was 10,136 boepd, a 1.8% month-on-month increase, with Ukraine production up 13.4%, while production in Russia declined by 5.5% compared to December 2016.
· In Ukraine, gas and liquids production increases were driven by the workover of well NN47 at the Rudenkivske field that was completed in December. In January NN47 produced a total of 138 million cubic feet of gas and 5,786 barrels of condensate. In addition, the Ignatovskoye field waterflood project commenced with injection of water through well IG126 in the southern part of the field.
· In Russia, gas production fell as effects of acid stimulation on wells 25 and 27 that completed in November began to subside. Further acid stimulation carried out on these wells in the latter part of January helped restore daily production to previous levels.
· In Hungary, gas sales from the Hajdunanas field commenced on February 2nd at an initial rate of 1.8 MMcfd, after a production and sales break of more than three years. Production forecasting and development planning is underway and future work may include a workover of the existing Hn-1 well to add production from the Lower Pannonian reservoir interval.
1boepd - Barrels of oil equivalent per day
2MMcfd - Million cubic feet per day
3MD - Measured depth
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
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