Kulczyk KUB-Gas introduces cost-efficient technology in Ukraine

KUB-Gas, a 70%-owned Ukrainian subsidiary of Kulczyk Oil (KOV PW), successfully implemented its dual completion technology at its M-21 and O-18 wells in 4Q12, Kulczyk Oil announced on Dec. 21. The O-18 well’s new B3 zone production stabilized at 0.136 MMcf/d, raising the well’s total output by 10% to 1.53 MMcf/d. A new production zone of the M-21 well indicated insufficient porosity and hence requires a fracture stimulation that is scheduled for 1Q13. KUB-Gaz became the first company to successfully implement their dual completion technology in Ukraine, Kulczyk Oil noted.

Roman Dmytrenko: Though the results of dual completion can be viewed only as a partial success, the technology itself should allow Kulczyk Oil to accelerate its reserves development, thereby avoiding drilling costs going through the roof. The company’s recent discovery of seven potential gas-bearing reservoirs at its M-16 exploration well makes it the next likely candidate for dual completion.