Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

JKX Oil & Gas Raises Funds

change text size

Eastern Europe-focused JKX Oil & Gas announced Wednesday that it has arranged to raise $40 million through a placing of convertible bonds with institutional investors.

Already this month, JKX has made a series of announcements regarding the progress of its operations in Ukraine.

On Monday this week, JKX said the remaining reserves for its Elizavetovskoye field near Poltava, Ukraine, had been revised upwards to 22 billion cubic feet of gas.

On Tuesday, the company confirmed that it was on track to achieve its second-quarter fracture stimulation project on a horizontal section of its R-103 well in the Rudenkovskoye deep tight-gas field in Ukraine.

JKX also announced in a separate statement Wednesday that the equipment it requires to upgrade its LPG plant at the Novo-Nikolaevskoye Complex in Ukraine has been shipped from a construction yard in Alberta, Canada. The new equipment, which is expected to be commissioned in May 2013, will enable the recovery propane and deliver an overall 15-percent increase in LPG production, said the company.


 

 



A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com

WHAT DO YOU THINK?

Post a Comment 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.

Related Companies

More from this Author
Jon Mainwaring
European Editor | Rigzone.com
 -  Repsol Agrees $8.3B Takeover Offer for... (Dec 16)
 -  SBM to Shed 1,200 Positions in Restruc... (Dec 11)
 -  Wood Group Order Book to Provide Resil... (Dec 11)
 -  BP Still Expects Growth Despite Challe... (Dec 10)
 -  BP to Cut Management Jobs as it Change... (Dec 8)
Most Popular Articles
From the Career Center
Jobs that may interest you
Subsea Engineer - R & D Manager
Expertise: Research & Development, Subsea Engineering
Location: Houston, TX
 
Engineering Designer
Expertise: CAD / CAM, Design Engineer, Field Development
Location: Houston, TX 77042, TX
 
Estimating Manager
Expertise: Budget / Cost Control
Location: Houston, TX
 
search for more jobs