Regal Petroleum obtained a stable commercial gas and condensate inflow from new well in Poltava region

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09.10.19

British company Regal Petroleum, a part of Smart Energy, obtained a stable inflow of natural gas and gas condensate from well No 119 Mekhedivsko-Golotovshynske field in Poltava region. At this moment, the well is flowing with average gas flow rate – 140 thous m3/day, condensate – 30 thous m3/day (1070 boepd per day in aggregate).

As a reminder, the well was spudded in February 2019 with a drilled depth – 4.822 m. Production of hydrocarbons is performed from the B-20 reservoirs in the Visean formation.

Testing and geological production research were conducted after perforation of productive horizon. At the end of September the well was hooked-up to the gas processing facilities.

Sergii Glazunov, Chief Executive Officer, said “We are delighted with the results of this new development well, which was drilled safely and successfully. The flow rates demonstrated are excellent and a significant boost to our overall production volumes”.

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 of Smart Energy Group.

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

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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