For 9 months, 2021, Smart Energy Group produced 300 mln m3 of gas

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Smart Energy group that includes the Representaitve Office of Regal Petroleum Corporation Limited (Enwell Energy plc) announces the production results for 9 months, 2021.
The companies of the Group produced cumulatively 299.9 mln m3 of gas (0.8% down y-o-y) and 27.4 Ktonnes of condensate (4.1% up y-o-y).
For 9 months, 2021, Smart Energy also produced 7,191 tonnes of LPG, 6.7% up y-o-y.

Despite the natural depletion of reservoir energy of productive intervals in the fields where Smart Energy companies operate, in the reported period the Group continues to keep production stable*. The average daily rate of gas production stays on the level of 1.1 mln m3/day.

Smart Energy continues to increase production volumes in Poltava region due to launch of new well #25 at Svyrydivske field. Meanwhile, the production is declining at the fields of Kharkiv region of the Group because of suspension of one of wells for workover and natural depletion of reservoir energy of productive intervals there.

Sergii Glazunov, CEO of Smart Energy Group, commented: “For the whole reported period we’ve been doing our best to keep our production volumes stable. Currently, our companies are intensifying their efforts for new drillings in order to get back the positive production dynamics. In particular, we are drilling two new wells now and one more is in the pipeline.”
This year Smart Energy has drilled well #29, at Svyrydivske field (with the depth of 5,450 m). Currently its testing is on. Subject to successful testing, production hook-up is expected as soon as possible.

In September, the Group spudded well #31 at the same field. Its target depth is 5,250 m. Drilling operations are scheduled to be completed by the end of Q1 of 2022, and, subject to successful testing, production hook-up is scheduled during Q2 of 2022. Well #31 is targeting production from the V-21 and V-22 horizons in the Visean formation, which have demonstrated good productivity in an existing nearby well.

In addition, work has commenced on upgrades to the gas processing plant which involve an upgrade of the LPG extraction circuit, an increase to the flow capacity of the plant, and a significant increase to the liquids tank storage capacity. The works are designed to improve overall plant efficiencies, improve the quality of liquids produced and boost recoveries of LPG, while reducing environmental emissions.

In August Smart Energy spudded well #4 at Svystunkivsko-Chervonolutske field (Poltava oblast). It has a target depth of 5,565 metres. It is targeting production from the V-22 horizon, as well as exploring the V-16 and V-21 horizons, in the Visean formation. Drilling operations are scheduled to be completed in mid-2022.

*2020 was a leap year

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