10 Aug 2017 07:00
10 August 2017
JKX Oil & Gas plc
("JKX", the "Company" or the "Group")
July 2017 Monthly Production Report
| July 2017 | June 2017 | % Change | 7 months to July 2017 | 7 months to July 2016 | % Change |
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 4464
Victor Gladun, Acting Chief Executive 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