Operational Updates | Government & Regulatory | Quarterly / Earnings Reports | Second Quarter (2Q) Update
Legislative Woes Hamper Cub's 2Q Production
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Cub Energy Inc. reported its unaudited interim financial and operating results for the second quarter of 2015. All dollar amounts are expressed in United States Dollars. This update includes results from KUB-Gas LLC, which Cub has a 30% ownership interest, and Tysagaz LLC, Cub's 100% owned subsidiary.
Operational Highlights Second quarter production in Ukraine continues to be below capacity due to the lingering effects of government legislation attempting to reserve a large share of the natural gas market for the state owned National Joint Stock Company Naftogaz and lack of reinvestment over the last twelve months. Production averaged 1,414 boe/d (98% natural gas) for the three months ended June 30, 2015, representing a 24% decrease from 1,868 boe/d in the comparative 2014 quarter and a…- ✓ Full news archive — U.S., Canada & international coverage
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