Regal Updates on Ukrainian Reserves

Regal Petroleum issued an update Monday on its reserves and resources in its onshore Ukrainian gas and condensate fields.

Regal reported that remaining reserves as of Dec. 31 2012 in the Visean reservoirs of its Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) gas and condensate fields stood at 7.7 million barrels of oil equivalent of proved (1P) reserves, 31.6 MMboe of proved and probable (2P) reserves and 52.6 million barrels of proved, probable and possible (3P) reserves.

Contingent resources at the reservoirs were estimated at between 36.6 MMboe (1C) and 148.8 MMboe (3C).

Regal noted that there has been a "material reduction" in 1P and 2P reserves compared to estimates made in 2010 that showed them to be 40.9 MMboe and 151.3 MMboe respectively. The firm said that these reductions reflect lower expected recovery factors. However, it said that further development of the fields may result in future movement of contingent resources into reserves.

Regal said that independent petroleum consultants ERC Equipoise carried out the assessment for the remaining reserves and contingent resources.

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Regal Updates on Ukrainian Reserves

Regal Petroleum issued an update Monday on its reserves and resources in its onshore Ukrainian gas and condensate fields.

Regal reported that remaining reserves as of Dec. 31 2012 in the Visean reservoirs of its Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) gas and condensate fields stood at 7.7 million barrels of oil equivalent of proved (1P) reserves, 31.6 MMboe of proved and probable (2P) reserves and 52.6 million barrels of proved, probable and possible (3P) reserves.

Contingent resources at the reservoirs were estimated at between 36.6 MMboe (1C) and 148.8 MMboe (3C).

Regal noted that there has been a "material reduction" in 1P and 2P reserves compared to estimates made in 2010 that showed them to be 40.9 MMboe and 151.3 MMboe respectively. The firm said that these reductions reflect lower expected recovery factors. However, it said that further development of the fields may result in future movement of contingent resources into reserves.

Regal said that independent petroleum consultants ERC Equipoise carried out the assessment for the remaining reserves and contingent resources.

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JKX Mobilizes Ukrainian Rig

Eastern Europe-focused JKX Oil & Gas announced Tuesday that it has mobilized the Skytop N75 rig to the Molchanovskoye field in the Ukraine for the horizontal recompletion of its M-166 Devonian sandstone oil well. The move is part of JKX's March restart of its in-field drilling and appraisal program on the Novo-Nikolaevskoye Complex.

The Skytop rig is then scheduled to move to the Elizavetovskoye license in June to spud the first of a planned five-well development drilling program. Drilling is also planned in 2013 on the Zaplavskoye license, following completion of processing and interpretation of additional 3D seismic data acquired last year.

JKX Chief Executive Dr Paul Davies commented in a company statement:

"We are pleased to recommence the in-fill drilling program on our core Ukrainian production licenses, the production from which currently underpins our group cash flow."

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JKX Mobilizes Ukrainian Rig

Eastern Europe-focused JKX Oil & Gas announced Tuesday that it has mobilized the Skytop N75 rig to the Molchanovskoye field in the Ukraine for the horizontal recompletion of its M-166 Devonian sandstone oil well. The move is part of JKX's March restart of its in-field drilling and appraisal program on the Novo-Nikolaevskoye Complex.

The Skytop rig is then scheduled to move to the Elizavetovskoye license in June to spud the first of a planned five-well development drilling program. Drilling is also planned in 2013 on the Zaplavskoye license, following completion of processing and interpretation of additional 3D seismic data acquired last year.

JKX Chief Executive Dr Paul Davies commented in a company statement:

"We are pleased to recommence the in-fill drilling program on our core Ukrainian production licenses, the production from which currently underpins our group cash flow."

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

JKX Mobilizes Ukrainian Rig

Eastern Europe-focused JKX Oil & Gas announced Tuesday that it has mobilized the Skytop N75 rig to the Molchanovskoye field in the Ukraine for the horizontal recompletion of its M-166 Devonian sandstone oil well. The move is part of JKX's March restart of its in-field drilling and appraisal program on the Novo-Nikolaevskoye Complex.

The Skytop rig is then scheduled to move to the Elizavetovskoye license in June to spud the first of a planned five-well development drilling program. Drilling is also planned in 2013 on the Zaplavskoye license, following completion of processing and interpretation of additional 3D seismic data acquired last year.

JKX Chief Executive Dr Paul Davies commented in a company statement:

"We are pleased to recommence the in-fill drilling program on our core Ukrainian production licenses, the production from which currently underpins our group cash flow."

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here