23 Nov 2016 07:00
23 November 2016
JKX Oil & Gas plc
("JKX", the "Company" or the "Group")
October 2016 Monthly Production Report
October2016 | September2016 | % Change | 10 months toOctober 2016 | 10 months toOctober 2015 | % Change | |
Total production (boepd1) | 9,900 | 9,669 | 2.4% | 10,163 | 8,678 | 17.1% |
Ukraine (boepd) | 3,734 | 3,635 | 2.7% | 4,021 | 4,308 | (6.7%) |
- Average gas production (MMcfd2) | 17.6 | 16.5 | 6.7% | 18.6 | 20.9 | (11.0%) |
- Average oil and condensate production (boepd) | 808 | 888 | (9.0)% | 928 | 826 | 12.3% |
Russia (boepd) | 6,167 | 6,034 | 2.2% | 6,142 | 4,370 | 40.5% |
- Average gas production (MMcfd) | 36.6 | 35.8 | 2.2% | 36.5 | 26.0 | 40.4% |
- Average condensate production (boepd) | 65 | 66 | (1.5)% | 66 | 45 | 46.7% |
Summary
· Average Group production for October 2016 was 9,900 boepd, 2.4% higher than the previous month.
· September production in Ukraine was impacted by the scheduled maintenance shut downs for both of the Group's gas processing plants.
· In Russia, a routine acid job was carried out on Well 27 leading to increased month-on-month production.
· The Company began to implement its field development plan for the Rudenkivske field in Ukraine with the workover of well NN16, which was completed on 6 November. Initial peak hourly production from NN16 was 16.4 MMcfd of gas and 467 boepd of condensate on a 48/64ths" choke (3,200 boepd total) but has since declined. Further information will be provided as production stabilizes.
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
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