Regal Petroleum increased aggregate rate of hydrocarbons production by 48% at the end of 2018

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09.01.19

Total aggregate rate of hydrocarbons production from the fields of Regal Petroleum plc in Poltava and Kharkiv regions increased approximately by 48% at the end of 2018 and was 4139 boepd (barrels of oil per day). This compares with an aggregate production rate of 2803 boepd at the end of 2017. It is noted in the official release of the company for London Stock Exchange.

In particular, for the year ended 31 December 2018, total aggregate rate of hydrocarbons production from Mekhedivsko-Golotovschynske and Svyrydivske fields in Poltava region was 2717 boepd: 341 216 m3/d of gas, 70m3/d of condensate, 36 m3/d of LPG. This compares with total production rate in 2017 – 1629 boepd: 197 961 m3/d of gas, 47 m3/d of condensate, 24m3/d of LPG.

From the field in Kharkiv region (Vasyschyvske field) during 2018 it was 674 boepd: 94 752 m3/d of gas, 8,2 m3/d of condensate.

Also, during the fourth quarter of 2018 total average daily production was 3341 boepd as compared to 2187 boepd during the fourth quarter of 2017: 417 921 m3/d of gas (276 089 m3/d of gas in the 4th quarter of 2017), 88 m3/d of condensate (54 m3/d in 2017), 44 m3/d of LPG (30m3/d of LPG in 2017).

During the same period average daily production of gas and condensate from the fields of Kharkiv region was 111 249 m3/d of gas and 10,6 m3/d of condensate (total 798 boepd). During the same period in 2017 it was 87 634 m3/d of gas and 6,4 m3/day of condensate (total 616 boepd).

Also, the company is now conducting pre-drilling activities for well No. 119 in Mekhedivsko-Golotovschynske field.

Reference

Regal Petroleum plc is a British AIM-quoted public company, operating in Ukraine through the Representative Office of Regal Petroleum Corporation Limited in Poltava region and LLC Prom-Energo Product in Kharkiv region. The companies own special license for production of hydrocarbons and are part Smart Energy Group. .

Whereas, Smart Energy Group is a part of Smart-Holding, in charge of implementing exploration projects, commercial development of the hydrocarbon deposits and alternative energy initiatives.

In addition to assets of Regal Petroleum, Oil & Gas business block of Smart Energy is represented by gas producing Ukrgazvydobutok (Kharkiv region).

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