Regal Completes and Hooks Up SV-59 Well Onshore Ukraine

Eastern Europe-focused junior oil and gas firm Regal Petroleum reported Thursday that its SV-59 well on its Svyrydivske field in Ukraine has been completed.

After cleaning up, the SV-59 well flowed at an average rate of approximately 370,858 cubic feet of gas and 495 cubic feet of condensate per day (154 barrels of oil equivalent in aggregate). The well has now been hooked up to the company's gas processing facility in the area and its performance will be monitoring during a production-testing program.

Regal said its Ukrainian gas and condensate production for the month of January 2014 averaged 1,258 boepd.

Regal also reported that, following the completion of upgrade work at its gas processing facility for liquefied petroleum gas recovery, the company is now producing LPG, averaging 81 boepd.

Meanwhile, Regal said its MEX-120 well on the Mekhediviska-Golotvshinska field has been assessed as a suitable candidate for a hydraulic fracturing program, with fracking operations scheduled to take place during February and March.



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