JKX Oil & Gas PLC October 2017 Monthly Production Report (3838W)
14 November 2017 - 6:01PM
UK Regulatory
TIDMJKX
RNS Number : 3838W
JKX Oil & Gas PLC
14 November 2017
14 November 2017
JKX Oil & Gas plc
("JKX", the "Company" or the "Group")
October 2017 Monthly Production Report
October September % Change 10 months 10 months % Change
2017 2017 to October to October
2017 2016
-------------------------- -------- ---------- --------- ------------ ------------ ---------
Total production
(boepd(1) ) 8,807 8,590 2.5% 8,662 10,130 (14.5)%
-------------------------- -------- ---------- --------- ------------ ------------ ---------
Ukraine (boepd) 3,283 3,029 8.4% 3,563 4,008 (11.1)%
- Average gas production
(MMcfd(2) ) 15.1 14.3 5.6% 16.2 18.5 (12.4)%
- Average oil and
condensate production
(boepd) 763 646 18.1% 640 925 (30.8)%
-------------------------- -------- ---------- --------- ------------ ------------ ---------
Russia (boepd) 5,502 5,501 0.0% 4,966 6,122 (18.9)%
- Average gas production
(MMcfd) 32.6 32.6 0.0% 29.5 36.3 (18.7)%
- Average condensate
production (boepd) 65 63 3.2% 55 65 (15.4)%
-------------------------- -------- ---------- --------- ------------ ------------ ---------
Hungary (boepd) 23 60 (61.7)% 133 - 100%
- Average gas production
(MMcfd) 0.1 0.3 (66.7)% 0.7 - 100%
- Average condensate
production (boepd) 2 5 (60.0)% 9 - 100%
-------------------------- -------- ---------- --------- ------------ ------------ ---------
-- Average Group production for October 2017 was 8,807 boepd, a
2.5% month-on-month increase and a 14.5% year-on-year decrease for
the first ten months of the year. The year-on-year decrease was
largely due to the delayed workover of well 25 in Russia and
natural production decline in Ukraine and Hungary.
-- In Ukraine, gas production was up by 0.8 MMscf/d while oil
production was up by 117 boepd compared to the previous month. This
was in part due to the Novonik gas plant shut-down in September for
regular maintenance. Optimization of gas compression also
contributed to the increase. In addition, following a successful
workover, production from M153 increased from 26 to 130 boepd.
-- In Russia, gas production remained constant. While the Well 5
workover has experienced delays, we now expect production to
re-start in December 2017.
-- In Hungary, the workover of Hn-1 is now complete and the well
started producing on 25 October. It is currently producing at the
rate of 0.7 MMcfd of gas and 12 boepd of condensate. Prior to Hn-1
workover the Hn-2ST well had been shut in on September 26. October
production data reflects the monthly average of seven days'
production from Hn-1.
(1) boepd - Barrels of oil equivalent per day
(2) MMcfd - Million cubic feet per day
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
Victor Gladun, Acting Chief Executive Officer
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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