Kulczyk Oil ups gas production in Ukraine 3.1x yoy in 1Q12

Kub-Gas, the Ukrainian subsidiary of Kulczyk Oil Ventures (KOV PW), increased gas output 3.1x yoy to 47.7 mln cm in 1Q12, making it fourth by volume among Ukraine’s private gas producers, Interfax reported yesterday. This implies Kulczyk’s net gas production in Ukraine increased to 33.4 mln cm (13.0 MMcf/d) in the quarter or up 78% qoq. As of end-1Q12, Kulczyk reportedly reached 14.2 MMcf/d in gas output.