JKX commences fracking at an idle well in Ukraine

JKX commences fracking at an idle well in Ukraine



3 липня 2013 года
Конкорд Капитал

JKX Oil & Gas (JKX LN) has commenced a multi-stage fracking program on its R-103 well, the company reported on July 2. JKX expects the nine-stage operation to take approximately 40 days with an initial flow in mid-August and stable production in September-October. The fracking will be performed by Schlumberger.



The R103 well, drilled in 2010 but currently not producing, is part of JKX’s Rudenkovskoye Field, whose gas reserves account for 23% of JKX’s total 2P reserves.



Roman Dmytrenko: Though it is hard to predict the outcome of the fracking, the involvement of Schlumberger as a contractor (which tends to participate in projects with a high probability of success) suggests we might see an encouraging update, including the Rudenkovskoye Field reserves being reclassified by JKX as fracking is completed.



At the same time, we look forward to seeing an update on JKX’s sidetracked M-166X well in Ukraine, which demonstrated an impressive 1,710 boepd flow during an initial 12-hour test reported at the end of May. The company has not provided any update on its final testing.

Источник: Конкорд Капитал

Аналитик: Роман Дмитренко
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