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.

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
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

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager
Expertise: Engineering Manager|Project Engineer
Location: Orlando, FL
Project Manager
Expertise: Engineering Manager|Project Engineer
Location: Chicago, IL
Accounting Manager
Expertise: Accounting
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours