Scandinavian Oil-Gas Magazinehttp://www.scandoil.com/moxie-bm2/news/kulczyk-oil-ventures-declares-record-high-producti.shtmlKulczyk Oil Ventures declares record high production achieved in UkraineKulczyk Oil Ventures Inc. report record high production levels from its Ukraine properties in early November
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Edit page New page Hide edit links Kulczyk Oil Ventures Inc. report record high production levels from its Ukraine properties in early November after the commencement of commercial production from the Makeevskoye-20 (M-20) well. New Production Milestone Gas production during the first part of November averaged 25.3 million cubic feet per day (MMcf/d) gross (17.7 MMcf/d net to the 70% interest of KOV). These levels are 13% higher than the average gas production level of 22.3 MMcf/d gross (15.6 MMcf/d net to KOV) achieved during the third quarter. Production increases were primarily due to the tie-in of the M-20 well which commenced commercial production in early November and is currently producing natural gas at a rate of 6.2 MMcf/d gross (4.4 MMcf/d net to KOV). Makeevskoye-20 The M-20 well was drilled to a total depth ("TD") of 2,000 metres and cased to TD in early August 2012. It was drilled to further develop the Makeevskoye R8 Pool which was originally discovered by the M-19 well drilled in the second half of 2010 and further developed by the Makeevskoye-21 ("M-21") during the second quarter of 2012. |