JKX avg daily oil, gas output drops 12% in Q3
KYIV. Oct 16 (Interfax) - The British oil and gas company JKX Oil & Gas, which operates in Ukraine, Georgia, Russia, Italy, and the United States, saw average daily hydrocarbon production drop 11.8% year-on-year in the third quarter to 7,740 barrels of oil equivalent per day (boepd).
Gas production fell 15.9% to 34.3 million cu feet per day, while condensate production grew 2% to 2,023 barrels per day.
JKX highlights, Q3 2012:
| Q3 2012 | Q3 2011 | Change % | |
| Production (boepd) | 7,740 | 8,779 | -11.8 |
| Gas Production (MMcfd) | 34.3 | 40.8 | -15.9 |
| Oil Production (bopd) | 2,023 | 1,983 | +2.0 |
| Realised gas price ($ per Mcf) | 10.92 | 10.10 | +8.1 |
| Realised oil price ($ per barrel) | 87.04 | 104.64 | -16.8 |
| Realised LPG price ($ per tonne) | 995.54 | 1,065.00 | -6.5 |
In Ukraine, average production in the third quarter was 6,840 boepd comprising 29.2 MMcfd of gas and 1975 bpd of oil and condensate, with LPG sales averaging 56 tons per day.
In Russia, average production in the third quarter was 737 boepd comprising 4.4 MMcfd of gas.
In Hungary, net production from the Hajdunanas Field in the third quarter was 164boepd comprising 0.7 MMcfd of gas and 49 bpd of oil and condensate (JKX share: 50%).
"We anticipate average production in the fourth quarter to be approximately 10,000 boepd," JKX said.
In Ukraine, JKX owns Poltava Gas and Oil Company, which hold four licenses for the development of the oil and gas deposits of the Novo-Nikolayev complex in Poltava Region, as well as a Zaplavskoye deposit exploration license, an Elizavetovskoye deposit license, and yet another applying to the Chervonoyarskoye-Vostochnoye field.
Via his Ralkon Commercial Ltd. (British Virgin Islands), Ukrainian businessman Ihor Kolomoisky owns 27.06% of the stock in JKX.
