Regal Petroleum posts decline in Ukrainian gas production

Regal Petroleum posted a marginal decline in output from two of it Ukrainian gas and condensate fields over the first half of this year.

In the six months to the end of June, average gas production at the Mekhediviska-Golotvshinska and Svyrydivske sites dipped to 145,009 cubic metres per day of gas, with 45 cubic metres of condensate and 20.4 cubic metres of liquefied petroleum gas.

This represents 1,291 barrels of oil equivalent per day in aggregate terms.

The sites, which span 269 square kilometres, are the company’s sole assets and are managed as one field.

In comparison, last year Regal produced 152,744 cubic metres per day of gas, 52 cubic metres of condensate and 21 cubic metres of liquefied petroleum gas production, representing 1,370 barrels of oil equivalent per day in aggregate.

As of 1100 BST, Regal was trading 6.8% higher at 5.1p.