JKX completes drilling wells in Ukraine and Russia
12 June 2019
JKX Oil & Gas (JKX LN) reported on June 11 it has
successfully drilled its NN81 well in Ukraine to target depth in late May, and
the well is currently producing 191 boepd of hydrocarbons. JKX highlighted it
was its third consecutive successful well in the last year in Ukraine. The
company also spudded a new well, IG142, near the IG103 well that is its most successful
in Ukraine to date. In addition, the company reported it completed a sidetrack
in Russia at Well-5, which had a technical failure in March.
Alexander Paraschiy: The NN81 well is much less productive than JKX’s previously
commissioned well IG103, meaning it won’t bring any boost in hydrocarbon output
in Ukraine (it accounts for less than 4% of the company’s output in Ukraine).
Anyway, the result looks encouraging for JKX, as well as the news that JKX
finally completed repairing Well-5 in Russia. The company’s drilling efforts
should result in advanced hydrocarbon output in 2019.
