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JKX Oil and Gas completes workover of Ukrainian well
Upstream exploration and production company JKX Oil and Gas has successfully completed its workover project on its IG101Z well in Ukraine, the first drilling operation conducted by its local operator since 2015.
The well, worked over by JKX's wholly-owned Ukrainian subsidiary Poltava Petroleum (PPC), was sidetracked with an open hole depth of 2,392-2,445m before being kicked off with nitrogen and opened to the early production facility at a choke size of 40/64" with an initial flow rate of 8.6m standard cubic feet of gas per day (MMscf/d) and 365 barrels of condensate per day.
After multi-rate tests, the well was flowing at a choke size of 25/64" with an average production rate of 3.4 MMscf/d of gas and 94 barrels of condensate per day.
Victor Gladun, JKX's acting chief executive, said, "The initial results from this well have met our expectations, providing a good start for our 2017-2018 well sidetrack program."
As of 1650 GMT, shares had pushed ahead 21.09% to 17.80p.