JKX Completed Fracs in Ukraine

JKX Oil & Gas completed the first three out of nine stages at the well R-103 in Ukraine, reporting results in line with expectations.

“Operationally this complex programme has made very good progress and now we have three fracs completed successfully,” commented JKX’s Chief Executive Paul Davies on a note released on Wednesday.

The company started the following three stages and it planned to repeat the clean-out procedure after Stage 6, with full clean-out and testing after the completion of the final Stage 9 frac. Each stage covers approximately 100m of the sub-horizontal 1,000m reservoir section.

“We are seeing variability in the rock properties as we progress along the well bore, and we may encounter sections where the pump pressure to frac the rock exceeds the safe working limit of the equipment. We have, therefore mobilised additional equipment, which should help us partially overcome the high break-down pressures encountered. I look forward to reporting progress with the next three stages of the programme," concluded Davies.

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

JKX’s strategy does not change despite the recent arm wrestling between the company’s management and the two major shareholders. In occasion of the release of the first half results, Davies restated the intention to focus on production growth in Ukraine and expansion in Russia. 

In July, the company announced that well NN-71 in the NovoNikolaevskoye field in Ukraine has been successfully recompleted to the Visean V-15 sandstone reservoir.