In July-September 2022, Enwell Energy plc (formerly known as Regal Petroleum plc, Britain) decreased the average daily production of hydrocarbons at the Mekhedivsko-Holotvschynske (MEX-GOL), Svyrydivske (SV), and Vasyschivske (VAS) gas-condensate fields by 49.5% to 2,588 BOE year over year (5,126 BOE).
The company has said this in a statement, Ukrainian News Agency reports.
"During the reporting period, the company's combined average daily production and production volume decreased substantially, amounting to 2,588 BOE compared to the 3rd quarter of 2021. This is the result of the shutdown of production and repair work at Ukrainian fields in the spring, as well as the lack of production since the end of February this year at the Vasyschivske field. Drilling and repair work at a number of production facilities was also postponed or suspended until the situation in Ukraine improved," the statement said.
In Q3, the average daily production of natural gas was 10.9 million cubic foot, 2.2 times less than in the 3rd quarter of 2021 (23.5 million cubic foot).
Average daily gas condensate production in Q3 decreased by 41.4% to 453 barrels compared to Q3 of the previous year (773 barrels), while average daily liquefied gas production increased by 6.8% from 278 to 297 barrels.
According to the report, production has now resumed in part of the fields and its average daily volume is 2,700 BOE, and some other operational activities have also been resumed to support well operations.
As of September 30, 2022, the company's cash resources amounted to approximately USD 78.6 million, of which USD 20.9 million in Ukrainian hryvnia.
As Ukrainian News Agency earlier reported, in 2021, Enwell Energy plc increased the average daily production of hydrocarbons at the Mekhedivsko-Holotvschynske (MEX-GOL), Svyrydivske (SV), and Vasyschivske (VAS) gas-condensate fields by 4.2% or 189 BOE to 4,730 BOE over 2020 (4,541 BOE).
In 2021, Enwell Energy plc boosted its net profit 16 times or by USD 47.9 million year over year to USD 51.1 million.
The oil and gas wing of Smart Holding is represented by the British company Enwell Energy plc, as well as Ukrainian gas producers Prom-Energo Product (in 2016 it became part of Regal Petroleum), UkrGasVydobuvannya and Arkona Gas-Energy LLC.
Smart Holding is controlled by businessman Vadim Novinsky.
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