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Cub Keeps Production Flat in 4Q; 1,353 BOE/d
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Cub Energy Inc. reported the following update for its operations for the fourth quarter of 2015. This update includes ongoing operations from KUB-Gas LLC, which Cub has a 30% ownership interest, and Tysagaz LLC, Cub's 100% owned subsidiary.
Fourth Quarter ProductionAverage production for the fourth quarter was approximately 1,353 boe/d (Cub WI), which was flat as compared to third quarter production of 1,350 boe/d. Production volumes at KUB-Gas declined approximately 5% due to natural declines with the absence of development drilling while production volumes at Tysagaz increased 15% due to a successful workover on the RK-23 well.
The estimated prices received in Ukraine current during the quarter were $7.32 per thousand cubic feet and $46.84 per barrel for natural gas and liquids…
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