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Article: Regal Petroleum stems production decline in Ukraine.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- May 7, 2009
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Regal Petroleum stems production decline in Ukraine
KYIV. May 7 (Interfax) - UK-based Regal Petroleum PLC says it has reversed the decline in the company's oil production in Ukraine.
"[T]he declining trend in production and revenue has now been reversed and this improvement should be more evident in 2009," the company said in a press release.
Production fell to a low of 460 barrels of oil equivalent per day (boepd) in November 2008, but later that month, following the work-over of the MEX-102 well, rose to a peak of 2,000 boepd.
Production from that well has now been "temporarily scaled back to allow for the well intervention and ...