Exploration & Production | Operational Updates
Cub Energy Reports New Production High
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Cub Energy Inc. announces that corporate production has reached a new high of more than 1,668 barrels of oil equivalent per day ("boe/d") after the stimulation of two wells in Ukraine.
The Olgovskoye-4 ("O-4") and Olgovskoye-5 ("O-5") wells were successfully stimulated resulting in maximum test rates of 4.0 million cubic feet per day ("MMcf/d") from the O-4 well and 1.3 MMcf/d from the O-5 well. The O-4 well has been tied-in for commercial production and is currently producing at 3.9 MMcf/d (1.17 MMcf/d net) of natural gas. The Ukraine production is operated by KUB-Gas LLC, a partially-owned subsidiary in which Cub has a 30% ownership interest. Gross production from KUB-Gas is now more than 30.5 MMcf/d of natural gas and 127 bbl/d of condensate resulting in net production to Cub's 30%…
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