JKX raises average daily production by 38% in early 2019
JKX Oil & Gas with assets in Ukraine and Russia in early 2019 reached the average daily production of 5,129 barrels (boepd), which is 38.3% more than the average figure for the fourth quarter of 2018, the company reported on the London Stock Exchange.
According to the report, this result was achieved thanks to the successful testing of the IG103 wellbore, as a result of which the productivity of this well continues to exceed expectations and recently amounted to about 1,600 boepd, while the estimated production from it exceeds 30 million cubic meters.
In accordance with the presentation of JKX, last year it increased natural gas production by 4.6%, to 181 million cubic meters, oil extraction by 6.3%, to 34,000 tonnes.
The company said that in 2019 it intends to increase production in Ukraine thanks to new drilling and other measures, including research and 3D seismic exploration.