Ukraine's Regal Enjoys Output Bump in 2019
Ukraine-focused junior Regal Petroleum ramped up hydrocarbon production by 15.4% yr/yr in the fourth quarter to 4,776 barrels of oil equivalent/day, it said in a statement on January 10.
The London-listed firm, which operates the Mekhediviska-Golotvshinska, Svyrydivske and Vasyschevskoye fields in eastern Ukraine, increased its natural gas output by 22.5% to 21.5mn ft3/day. It also produced 739 barrels/day of condensate and 308 barrels/day of LPG during the three-month period, it said.
Production for the whole of 2019 also climbed by 26%, arriving at 4,263 boe/day, driven by a 25.5% growth in gas extraction to 19.2mn ft3/day.
Fellow Ukrainian junior JKX Oil & Gas also reported a surge in output last year, helping to counter the impact of lower gas prices.