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Fracking success declared in Ukraine

Aug. 28, 2013 at 7:22 AM   |   Comments

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.

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