Eastern Europe-focused JKX Oil & Gas reported Monday that it has completed its second development well on the Elizavetovskoye field in Ukraine.

JKX said that, following the standard acidization and clean-up procedure, well E-302 produced at a stabilized rate of 6.2 million cubic feet of gas per day with 14 barrels of condensate per day through a 44/64-inch choke with a flowing wellhead pressure of 760 psi (pounds per square inch) during the last phase of the multi-choke test sequence. The well has now been placed on production.

Well E-302 was drilled to a measured depth of 10,355 feet and targeted the primary Permian A2 carbonate reservoir. It has also been engineered to permit deepening to the Upper Carboniferous G7-12 sandstone reservoirs, should that be required at a later date, JKX added.

The next well on the field, E-304, will target the deeper G sands, with drilling planned for the third quarter of this year. JKX said the 3D seismic acquisition program over the field is nearly complete and that processing is commencing, with the data being used to select well locations for further appraisal and development of the A2 carbonate and G sands reservoirs away from the core producing area.

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

"We are delighted that the second development well on the Elizavetovskoye has also come on-stream substantially ahead of our initial predictions, with production from the first two wells now approaching the nominal 15 million cubic feet per day capacity of the EPF [Early Production Facility]. We intend to accelerate the appraisal and development of the deeper G sands and are preparing plans for the expansion of the plant."

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