Regal Petroleum

British Regal Petroleum drilled a new well No 119 Mekhedivsko-Golotovshynske field in Poltava region and put it into operation. The average daily production rate for the well is 140 Km3/day of gas and 30 Km3/day of condensate (1070 boepd in aggregate). A drilled depth of well is 4,822 m. Production of hydrocarbons is performed from the B-20 reservoirs in the Visean formation.

Moreover, in October, the company spudded a new well No 54 in Svyrydivske field in Poltava region. The well has a target depth of 5320 m.

Regal Petroleum announced an updated assessment of reserves at Vasyshchivske gas and condensate field in Kharkiv region. The study estimated considerable increase of 1P and 2P reserves. Thus, the reserves estimated as of 31 December 2018 are as follows: 1P – 258 mln m3 of gas and 25 thous t of condensate, 2Р - 427 mln m3 of gas and 42 thous t of condensate, 3P – 533 mln m3 of gas and 48 thous t of condensate. The assessment of reserves and prospective resources has been conducted by independent international consultants according to PRMS.

Smart Energy Group

Smart Energy Group reached an important strategic target of 1 million cubic metres of a daily gas production rate. This has been made possible through successful projects in drilling and workover.

The companies of Smart Energy Group expanded its opportunities of selling natural gas, gas condensate and LPG by partnering with Ukrainian Energy Exchange (UEEX) as well as concluded an agreement with a trading platform Zakupki.Prom.ua. Therefore, the companies of the group got the possibility to purchase goods, services and materials via an open platform.

In 2019 the Group increased hydrocarbons production. The total production of gas is 24.7% up y-o-y and gas condensate production is 28.7% up y-o-y, due to putting into production new wells and workovers of existing wells.