News


September 5, 2017

Operations Update – Drilling of S-375 well completed

Highlights
· S 375 delineation well and S-375s sidetrack well contain 4.8 m and 14.8 m respectively of net oil pay based on log and core data
· Testing contractor being mobilised to field with results expected by end September
· Reserve calculation and Development Plan being updated

July 28, 2017

Q2 2017 Production Data

PetroNeft provides an update on oil production at Licence 61 in the second quarter of 2017. 

Licence 61 Gross Production

Q2-2017

Q1-2017

Q4-2016

Q3-2016

Q2-2016

FY 2016

FY 2015

Total gross production

200,208

224,604

255,068

305,126

223,877

990,887

737,655

Gross bopd

2,200

2,496

2,772

3,317

2,460

2,707

2,021

PetroNeft 50% share bopd

1,100

1,248

1,386

1,658

1,230

1,354

1,010

 

July 20, 2017

Operations Update – Drilling of S-375 well commenced

PetroNeft (AIM: PTR) is pleased to announce that it has commenced drilling the S-375 delineation well at Sibkrayevskoye. It is expected to take up to eight weeks to drill and test the well. The S-375 well is being drilled on the northern structural lobe of the field approximately 2km south of existing wells that contained about 10m of net pay.

June 30, 2017

Final Results 2016

Highlights
• Significant success in horizontal drilling at South Arbuzovskoye although result of the 10km step-out S-374 well on Sibkrayevskoye was disappointing 
• Gross production from Licence 61 increased 35% compared to 2015:
o Gross production 990,931 barrels of oil
o Average gross production of 2,707 bopd (2015: 2,021 bopd)
o Net to PetroNeft 1,353 bopd (2015: 1,010 bopd)
• 65.0 mmbbls total proved and probable (2P) reserves net to PetroNeft

April 28, 2017

Q1 2017 Production Data

Oil production at Licence 61 in the first quarter of 2017.

Licence 61 Gross Production

Q1-2017

Q4-2016

Q3-2016

Q2-2016

Q1-2016

FY 2016

FY 2015

Total gross production

224,604

255,068

305,126

223,877

206,816

990,887

737,655

Gross bopd

2,496

2,772

3,317

2,460

2,273

2,707

2,021

PetroNeft 50% share bopd

1,248

1,386

1,658

1,230

1,136

1,354

1,010


March 31, 2017

2017 Work Programme and Financing agreed with Oil India

In order to further de-risk the field before committing to significant full field development expenditure it has been decided to drill an additional delineation well, S-375, before commencing the full development of the field. The S-375 well will be drilled on the northern structural lobe of the field approximately 2km south of existing wells that contained approximately 10m of net pay. This well will be spudded in Q2-2017 and completed this summer. 

January 31, 2017

2016 Production Data

Oil production at Licence 61 in 2016.

Licence 61 Gross Production

Q4-2016

Q3-2016

Q2-2016

Q1-2016

FY 2016

FY 2015

Total gross production

255,068

305,126

223,877

206,816

990,887

737,655

Gross bopd

2,772

3,317

2,460

2,273

2,707

2,021

PetroNeft 50% share bopd

1,386

1,658

1,230

1,136

1,354

1,010