CORRECT (Jun 11): JKX Oil & Gas Continues Ukrainian Development Plan

(Correcting the amount of cubic metres per day of gas well NN81 is currently producing.) ...

Alliance News 13 June, 2019 | 9:39AM
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(Correcting the amount of cubic metres per day of gas well NN81 is currently producing.)

(Alliance News) - Russia and Ukraine focused hydrocarbon explorer JKX Oil & Gas PLC said Tuesday it has successfully drilled its third new well in its development plan.

In Ukraine, well NN81 has been drilled to 1,975 metres and was tested on May 31. The well is currently producing at 168 barrels of oil per day and 4,000 cubic metres per day of gas.

"This is the third successful new well or sidetrack since approval of the 5 year field development plan. The rig has now spudded IG142, a follow-up well to the successful IG103 sidetrack," the company said.

In Russia, JKX has drilled the second sidetrack of Well 5 to the planned depth of 5,200 metres.

Shares in JKX Oil & Gas were up 2.6% Thursday in London at 41.05 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
JKX Oil & Gas PLC 40.20 GBX 1.77 -
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