Regal Petroleum puts latest well on longer term production test as initial rates impress

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Regal Petroleum puts latest well on longer term production test as initial rates impress

Regal Petroleum Plc (LON:RPT) told investors that the latest well at the Svyrydivske (SV) field, in Ukraine, has been hooked up for a longer term production test as initial results impressed.

The SV-54 development well is currently producing at a rate of 565 barrels oil equivalent per day.

“We are delighted with the results of this new well, which was drilled safely and successfully, and well ahead of schedule,” said Sergii Glazunov, Regal chief executive.

“The flow rates demonstrated are excellent and a significant boost to our overall production volumes.”

The SV-54 well was drilled to a depth of 5,322 metres, targeting production from the B-22 and B-23 reservoirs in the Visean formation. 

Proactiveinvestors.co.uk

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