10 August 2017
JKX Oil & Gas plc("JKX", the "Company" or the "Group")
July 2017 Monthly Production ReportJuly 2017 | June % 2017 Change | 7 months to July 2017 | 7 months % to July Change 2016 | |||
Total production (boepd1) | 8,439 | 7,669 | 10.0% | 8,575 | 10,266 | (16.5)% |
Ukraine (boepd) | 3,447 | 3,446 | 0.0% | 3,719 | 4,091 | (9.1)% |
- Average gas production (MMcfd2) | 16.4 | 16.6 | (1.2)% | 18.0 | 19.0 | (5.3)% |
- Average oil and condensate production (boepd) | 720 | 684 | 5.3% | 719 | 930 | (22.7)% |
Russia (boepd) | 4,949 | 4,119 | 20.2% | 4,697 | 6,175 | (23.9)% |
- Average gas production (MMcfd) | 29.4 | 24.4 | 20.5% | 27.9 | 36.7 | (24.0)% |
- Average condensate production (boepd) | 55 | 46 | 19.6% | 51 | 65 | (21.5)% |
Hungary (boepd) | 43 | 104 | (58.7)% | 158 | - | 100% |
- Average gas production (MMcfd) | 0.2 | 0.6 | (66.7)% | 0.89 | - | 100% |
- Average condensate production (boepd) | 4 | 8 | (50.0)% | 10 | - | 100% |
Average Group production for July 2017 was 8,439 boepd, a 10.0% month-on-month increase and a 16.5% year-on-year decrease for the first seven months of the year. The year-on-year decrease was largely due to the delayed workover of well 25 in Russia.
In Ukraine, gas production was consistent with the previous month. Oil production was up by 36 boepd month-on-month due to small increases in production from IG105, IG137-Bis and IG132. These increases have come about as a result of the installation of a de-waxing unit in IG137-Bis and more regular wax cutting in the other wells.
In Russia, gas production was higher than in June due to contribution of Well 25. The well is currently producing at the rate of 10.1 MMscf/d.
In Hungary, gas production lower than in June due to increased water breakthrough at well Hn-2. Technical limits of the water handling equipment necessitated a reduction in gas production rates.
1boepd - Barrels of oil equivalent per day
2MMcfd - 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 4464Victor Gladun, Acting Chief Executive Officer
Stockdale Securities +44 (0) 20 7601 6100Robert Finlay, Daniel Harris
EM Communications +44 (0) 20 3709 5711Stuart Leasor, Jeroen van de Crommenacker
JKX Oil & Gas plc published this content on 10 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 August 2017 19:26:03 UTC.
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