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JKX Oil & Gas Notes Price Declines Though Production Grows

Fri, 12th Jul 2019 17:53

(Alliance News) - JKX Oil & Gas PLC on Friday reported a 16% rise in interim production, though gas prices in the Ukraine have suffered.

For the six months to June, average daily production from both Russia and the Ukraine was 10,132 barrels of oil equivalent per day, 16% up on the year before. Ukraine output surged 49%, but Russia fell 4.2%.

The average price of gas in Ukraine was 12% lower than the year before at USD247 per million cubic metres, with oil and condensate down 17% to USD59 per barrel.

In Russia, the gas price dipped 8.25 to USD56 per million cubic metres, with JKX only producing gas in Russia.

JKX also said, following the stepping down of two non-executive directors, it is as a priority looking to make new appointments. Christian Bukovics and Andrey Shtyrba resigned in late May.

JKX shares closed 3.9% lower on Friday in London at 37.00 pence each.

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