JKX Awards Fracking Contract for Ukrainian Prospect

JKX Oil & Gas has today announced the awarding of a fracking contract to Sclumberger. The contract, which is signed between Schlumberger and JKX subsidiary Poltava Petroleum Company (PPC), applies to the Rudenkovskoye licence in Ukraine.

Through the contract, Schlumberger will perform hydraulic fracturing on well R103, a well which was first spudded in 2010. PPC, at that time, drilled well R103 to a total depth of 4,589 metres, including a sub-horizontal component of 1,000 metres in a low permeability gas bearing Devonian sandstone unit.

JKX said today that study of the well has indicated that it will benefit from a multi-stage fracture treatment, an operation which Schlumberger won the right to undertake in 2011. Today's announcement signals the signing of the necessary additional contracts to begin the nine-stage fracking operations.

Extensive pre-fracturing operations have already been undertaken on the well site with an injectivity test to be completed within this quarter. Fracking is due to begin on the well in the second quarter of next year.

"We are very pleased to have placed these series of contracts with an industry leader and look forward to the successful completion of one of the largest frack operations in the region," Chief Executive of JKX Dr Paul Davies said today.