British-based Cadogan Petroleum Plc, which owns assets in Ukraine, after overhauls and stimulating the Blazh-3 well at the Monastyretska deposit (Lviv region), increased production by 2.8 times, to 125 barrels of oil equivalent per day (boepd), the company said on the website of the London Stock Exchange. “As a result of the work carried out, Cadogan’s total production exceeded 300 barrels (of which Cadogan’s net share is 290 boepd),” the company said. Earlier, Cadogan successfully performed repairs and stimulation at the Blazh-1 well.
As reported, Cadogan in 2017 increased its average daily production of hydrocarbons by 34%, to 167 boepd (of which Cadogan’s net share was 155 boepd), and by the end of the year production reached 190 boepd (Cadogan’s net share is 176 boepd).
Major growth in production was provided by the Monastyretska field, at which wells were overhauled, previously shut-in wells were restarted.
Cadogan develops deposits in Eastern and Western Ukraine. The Monastyretska deposit is located in Lviv region. Oil produced there has a low content of gas and water, is processed on the site and supplied to customers by road.
