Regal announces operations update on four wells

Regal Petroleum (RPT LN) this morning released its Ukraine Operations Update, detailing drilling progress on its four wells using its new Saipem-operated rigs. Regal said MEX-106 is producing B-sand reservoirs at a stable rate of 75 ths m3/d (2.6 MM scf/d) of gas and 12 m3/d (75 boepd) of condensate; SV-58 is completed and prepared for production testing from B-sand intervals; SV-61 is at a depth of 4,890 meters; and SV-66 has reached a depth of 1,110 meters. David Greer, CEO of Regal, said in the statement that the company is confident it will be able to remove the obstruction in MEX-106 and get access to the T-sands and D-sands to test for further production.