Regal Reports Strong Gas Flow in Ukraine
Ukraine-focused Regal Petroleum has reported strong gas and condensate flows from its latest well at the Mekhediviska-Golotvshinska field in the country’s northeast.
The MEX-119 development well was targeting B-20 reservoirs within in the field’s Visean formation, Regal said in a London stock exchange filing on October 8. It was spudded in February and completed to a depth of 4,822 metres.
An interval between 4,804 and 4,816 metres was perforated and tested, yielding “strong” gas and condensate flows, according to Regal. MEX-119 was tied to gas processing facilities to enable longer-term testing, and is currently flowing at a stable rate of 5mn ft3/day of gas and 193 b/day of condensate. This amounts to 1,070 boe/day of total hydrocarbons.
“We are delighted with the results of this new development well,” CEO Sergii Glazunov said, adding the flow rates were “excellent and a significant boost to [Regal’s] overall production volumes.”
Regal flowed 4,192 boe/day of hydrocarbons from its Mekhediviska-Golotvshinska, Svyrydivske and Vasyschevskoye fields in Ukraine in the first half, up 50% y/y. This production gain was not enough to save Regal from a steep fall in profits because of a slump in Ukrainian gas prices.