13 Jun 2017 07:00
13 June 2017
JKX Oil & Gas plc
("JKX", the "Company" or the "Group")
May 2017 Monthly Production Report
| May 2017 | April 2017 | % Change | 5 months to May 2017 | 5 months to May 2016 | % Change |
Total production (boepd1) | 7,847 | 7,800 | 0.6% | 8,721 | 10,317 | (15.5)% |
Ukraine (boepd) | 3,837 | 3,561 | 7.8% | 3,768 | 4,107 | (8.3)% |
- Average gas production (MMcfd2) | 18.6 | 17.0 | 9.4% | 18.6 | 19.2 | (3.1)% |
- Average oil and condensate production (boepd) | 744 | 727 | 2.3% | 663 | 901 | (26.4)% |
Russia (boepd) | 3,860 | 4,023 | (4.1)% | 4,761 | 6,210 | (23.3)% |
- Average gas production (MMcfd) | 22.9 | 23.8 | (3.8)% | 28.3 | 36.9 | (23.3)% |
- Average condensate production (boepd) | 44 | 51 | (13.7)% | 51 | 66 | (22.7)% |
Hungary (boepd) | 150 | 216 | (30.6)% | 192 | - | 100% |
- Average gas production (MMcfd) | 0.9 | 1.2 | (25.0)% | 1.1 | - | 100% |
- Average condensate production (boepd) | 5 | 10 | (50.0)% | 12 | - | 100% |
· Average Group production for May 2017 was 7,847 boepd, a 0.6% month-on-month increase and a 15.5% year-on-year decrease for the first five months of the year, largely due to a planned workover in Russia, partly compensated by increased production in Ukraine as a result of the successful enhancement programme.
· In Ukraine, gas production increased due to pre-stimulation gas production from 6R in Rudenkivske and a complete month of production from EM53 in Elizavetivske. Oil production increase was due to the installation of an ESP in IG128 which increased the well's average oil production from 38 stb/d3 to 132 stb/d.
· In Russia, gas production is lower than April due to the absence of an acid job on Well 27 in May but with an acid job planned in the first half of June. The workover on Well 25 is now expected to recommence on 15th June 2017.
1boepd - Barrels of oil equivalent per day
2MMcfd - Million cubic feet per day
3stb/d - standard tank barrel 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
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