Kulczyk Oil reports current net production of 19.9 MMcf/d
10 June 2013
KUB-Gas, Kulczyk Oil’s (KOV PW) 70%-owned subsidiary, tied-in its M-16 well for commercial production at 2.71 MMcf/d (1.9 MMcf/d net to Kulczyk), raising its current hydrocarbon output to 28.5 MMcf/d at present (19.9 MMcf/d net to Kulczyk), compared to 27.0 MMcf/d in March, Kulczyk reported on June 7. Yet further production growth is constrained by the maximum throughput capacity of its only natural gas processing plant, reported KUB-Gas, which is currently working to expand it. The cost of doubling the plant’s capacity to 65 MMcf/d by 2014 is estimated at USD 6 mln (USD 4.2 million net to Kulczyk).
Roman Dmytrenko: The M-16 well tested at a maximum stabilized rate of 4.3 MMcf/d in early April, so the current production increase is not surprising. At the same time, the timing of the gas processing plant’s debottlenecking looks crucial since production might expand very soon. The company’s recently drilled O-15 well indicated four potential gas-bearing zones with an aggregate thickness of 23 meters.
