Regal Reports Lower Production from Ukraine Operations

Ukraine-focused Regal Petroleum reported Friday that its gas and condensate production in the country averaged 1,258 barrels of oil equivalent per day during the three months to December 31. Regal had previously reported that production during the six-month period to June 30 2013 had averaged 1,525 boepd.

The firm said that the production levels were "slightly affected" by shutdowns at its gas processing facility while upgrades to the facility were completed.

Regal said that its SV-59 well was completed after reaching its target depth of 17,950 feet and is now undergoing initial testing. A number of intervals in the Visean reservoirs have been perforated and testing is ongoing.

The MEX-105 well has undergone a well-stimulation program but this proved unsuccessful. Regal expects a hydraulic fracturing program to be carried out here during 2014.

Regal has carried out hydraulic fracturing at the SV-53 well, but it reported that only non-commercial gas flows have been observed in the well so far.

Meanwhile, ongoing workover operations at the GOL-1 well, which were designed to eliminate water ingress into the well, were only partially successful. Consequently, Regal said, it has not been possible to bring the well back into production.


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