Regulatory Story
Go to market news section View chart   Print
JKX Oil & Gas PLC  -  JKX   

Commencement of Ukraine Frac Operations

Released 07:00 02-Jul-2013

RNS Number : 3405I
JKX Oil & Gas PLC
02 July 2013

JKX OIL & GAS plc ("JKX")

Commencement of Ukraine Frac Operations  


JKX Oil & Gas plc ("JKX") is pleased to announce that the multi-stage frac operation on well R-103 has commenced in its Rudenkovskoye licence in Poltava, Ukraine. Well R-103 was drilled to a total depth of 4,641 metres into the Rudenkovskoye Devonian sandstone reservoir with a horizontal section of just over 1,000 metres at a true vertical depth of 3,650 metres.


The operation, which will consist of nine stages, is expected to take around 40 days to complete with initial flow expected in mid-August. Schlumberger, the frac contractor, is planning to inject more than 1,200 tons of proppant supported by up to 35,000 barrels of frac fluid, making it probably the largest onshore frac in Europe to date. Clean-up is anticipated to take between two to four weeks, with the well reaching stable production approximately one month later.


The first step in the operation, which began on 30 June, is to run in-hole using the coiled tubing unit ("CTU") to set and test the first plug at the end of the well. The CTU will then jet perforate the first set of perforations before carrying out a preliminary mini-frac. This mini-frac will permit fine-tuning of the parameters for the main fracs, each of which will be injecting more than 120 tons of proppant into the formation. The sequence of "plug, perforate and frac" will then be repeated a further eight times.


JKX's Chief Executive, Dr Paul Davies, commented: "A considerable amount of planning and preparation has gone into this pioneering project. We remain confident that the application of this proven technique for tight gas reservoirs will allow us to develop commercially the very large gas in-place in the Rudenkovskoye field."


JKX Oil & Gas plc is an exploration and production company listed on the London Stock Exchange. The Company has licence interests in Ukraine, Russia, Hungary and Slovakia.



For further information please contact:

Cardew Group                                                                                    T: 020 7930 0777

Nadja Vetter                                                                                        M: 07941 340 436

Anthony Cardew                                                                                 M: 07770 720 389

Lauren Foster                                                                                     M: 07887 676 603


This information is provided by RNS
The company news service from the London Stock Exchange

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


Commencement of Ukraine Frac Operations - RNS