Regal Petroleum plc increased its average daily production of hydrocarbons in the first quarter of 2019

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05.04.19

Public British Company Regal Petroleum plc (part of Smart Energy) increased its average daily hydrocarbon production during the first quarter of 2019 by 51.4% in the fields of Poltava region and by 69% in the fields of Kharkiv region, compared with the same period last year. This was stated in company’s public announcement, published on London Stock Exchange website.

In particular, average daily production in January-March this year in Mekhedivsko-Golotovschynske and Svyrydivske fields located in Poltava region reached 3283 boepd per day. This includes: natural gas – 407 073 m3/day (+49.1%), condensate – 87 m3/day (+64.1%), LPG – 46 m3/day (+48.4%). By comparison, in the first quarter of 2018 average daily production was 2169 boepd per day, whereas natural gas - 272 969 m3/day, condensate - 53 m3/day, LPG – 31 m3/day.

The indicators of average daily production in January-March this year in Vasyschyvske field were the following: natural gas - 141 094 m3/day (+63,6%), condensate – 15 m3/day ( increase by 2,5). Total average daily production reached 1023 boepd per day compared with 605 boepd per day for the same period last year (natural gas – 86251 m3/day, condensate – 6 m3/day).

As a reminder, the Company is now drilling well No 119 in Mekhedivsko-Golotovschynske field. As of now drilled depth is 2300 m, target depth – 4 850 m. The completion of drilling is expected in September this year.

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 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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