Testing of well E-303 on the Elizavetovskoye Field in Ukraine indicates a gross pay of 167 m (548 ft) spread over eight reservoir horizons, JKX Oil & Gas said in a news release.
Reservoir properties are analogous to those in the producing wells in the adjacent Machevska Field, one of the largest fields in Ukraine, which has a history of significant, sustained production from the deep sandstone reservoirs, the release said.
“Bringing the deep sandstone reservoirs of the Elizavetovskoye Field on-stream is technically challenging and will require extended completion and testing,” JKX Chief Executive Paul Davies said in the release. “We are optimistic that the sandstone reservoirs will produce at commercial rates in line with the nearby wells.”
Recommended Reading
SM Energy Declares Quarterly Cash Dividend
2024-03-26 - SM Energy’s dividend will be paid out on May 3 to stockholders on record as of April 19.
Matador Stock Offering to Pay for New Permian A&D—Analyst
2024-03-26 - Matador Resources is offering more than 5 million shares of stock for proceeds of $347 million to pay for newly disclosed transactions in Texas and New Mexico.
Par Pacific Asset-based Revolving Credit Bumped Up by 55%
2024-03-25 - The amendment increases Par Pacific Holdings’ existing asset-based revolving credit facility to $1.4 billion from $900 million.
California Resources Corp. Nominates Christian Kendall to Board of Directors
2024-03-21 - California Resources Corp. has nominated Christian Kendall, former president and CEO of Denbury, to serve on its board.
Crescent Point Energy to Rebrand as Veren Inc.
2024-03-21 - The company will seek shareholder approval for the change at its upcoming annual and special meeting of shareholders on May 10.