Exploration & Production | Top Story | Production Rates
Cub Energy Hits 36 MMcf/d Milestone; Suspends Ukrainian Ops
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Cub Energy Inc. has reported that KUB-Gas LLC achieved a significant milestone in daily production -over 1 million cubic metres per day or approximately 36 million cubic feet per day after recent tie-ins. This equates to approximately 10.8 MMcf/d net production to Cub from KUB-Gas.
Cub has a 30% ownership interest in KUB-Gas through its 30% shareholding of KUBGAS Holdings Limited.
Although production has increased, and will continue, Cub and its partner have decided to suspend current developmental field operations to ensure the continued safety of employees and assets during the ongoing regional conflict in eastern Ukraine. The declared ceasefire between the Ukraine government and pro-Russian separatists has not materialized, forcing a situation where KUB-Gas contractors are refusing to…
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