The Olgovskoye-12 (O-12) well in Ukraine began commercial production on Jan. 1, 2012, and was producing at a rate of more than 4.6 million cubic feet per day (MMcf/d) of natural gas, according to Kulczyk Oil Ventures.
The O-12 well reached a total depth (TD) of 2,700 m (8,910 ft) in early September 2011 and was cased to TD as a potential gas producer. A 10-m (33-ft) zone in the Middle Bashkirian was perforated and production tested at a maximum rate of 8.1 MMcf/d on a 10-mm choke.
The well is operated by KUB-Gas LLC, a partially owned subsidiary in which Kulczyk has a 70% effective ownership interest. KUB-Gas plans to produce the well at a restricted initial rate to avoid damage to the reservoir.
Total KUB-Gas production from its Ukraine properties has averaged approximately 16.5 MMcf/d since Jan. 1 and more than 17 MMcf/d since Jan. 4. Condensate production since the start of the year has averaged more than 200 barrels per day.
Recommended Reading
Range Resources Holds Production Steady in 1Q 2024
2024-04-24 - NGLs are providing a boost for Range Resources as the company waits for natural gas demand to rebound.
Hess Midstream Increases Class A Distribution
2024-04-24 - Hess Midstream has increased its quarterly distribution per Class A share by approximately 45% since the first quarter of 2021.
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.
Equitrans Midstream Announces Quarterly Dividends
2024-04-23 - Equitrans' dividends will be paid on May 15 to all applicable ETRN shareholders of record at the close of business on May 7.