www.regalpetroleum.co.uk
Regal Petroleum's primary assets are two large gas and condensate fields in Ukraine - the Mekhediviska-Golotvschinska (MEX-GOL) field and the Svyrydivske (SV) field located in the prolific Dneipner-Donets basin in the north east of Ukraine. Regal is the operator of the assets and there are currently 5 production wells on the assets. Secondary to this, but still significant, are two large exploration blocks in Romania, the Barlad and Suceava Blocks, where Regal holds a 100% and 50% interest respectively.
Regal Petroleum also has a 25% non-operated joint venture in Egypt with Apache Khalda Corporation LDC, where an exploration well tested positively for oil in September 2007 and was tied in as a producing well in June 2008.
Regal Petroleum increases gas production in October and November
Regal Petroleum (LON:RPT) this afternoon confirmed its production numbers from its operations in Ukraine.
Production resumed from the MEX-GOL and SV gas fields in July.
Today it revealed that gas production averaged 212,367 cubic metres of gas per day and 49 cubic metres of condensate per day – equating to 1,632 barrels oil a day – in October.
Meanwhile in November it produced an average of 228,799 cubic metres of gas per day and 52 cubic metres of condensate per day – which equates to 1,751 barrels of oil per day.
These rates represent a notable increase from the 207,205 cubic metres of gas and 52 cubic metres of condensate produced each day over the seven day period during September, as reported in the group’s interim results statement.
In September’s interims Regal said that it was receiving a gas price of US$379 per thousand cubic metres in Ukraine, which is up 48 per cent on the average price from 2010.
