Fracking success declared in Ukraine

Aug. 28, 2013 at 7:22 AM

LONDON, Aug. 28 (UPI) -- Only one of the 10 hydraulic fracturing operations carried out in Ukraine was unsuccessful, British exploration company JKX Oil & Gas said Wednesday.

JKX said Wednesday it was "pleased to report" it finished its 10-stage hydraulic fracturing campaign in Ukraine.

"Conditions have been difficult but overall the execution has been better than anticipated," Chief Executive Officer Paul Davies said in a statement. "Seven of the frac stages have achieved or exceeded design predictions, two were below expectations and only one was unsuccessful."

JKX started its multistage hydraulic fracturing operation at its Rudenkovskoye license area in eastern Ukraine in early July.

The company, which has headquarters in London, said second quarter production of 11,100 barrels of oil equivalent per day was split between Ukraine and Russia, with the latter accounting for the bulk of the gains. JXK said a "small contribution" came from operations in Hungary.

The Ukrainian government said there may be enough natural gas in shale reserve areas to meet the country's needs without imports.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Hess completes Bakken joint venture
Brazil orders search-and-rescue aircraft
Whole Foods apologizes for overcharging customers
BP settles with U.S. coastal states for $18.7 billion