JKX, Serinus boost gas output, Regal’s falls 1.2x yoy in June

Обзоры по компаниям и отраслям 22.07.2014 Ukraine’s natural gas production outside of Crimea rose 2.5% yoy to 1.63 bcm in June, according to the preliminary data released by the Energy Ministry on July 21. The increase was the result of boosted production by private producers, which reported output growth of 32.9% yoy to 0.24 bcm in June. In 1H14, Ukraine’s (excluding Crimea) gas output increased 1.5% yoy to 9.82 bcm. The June performance of Ukrainian assets of publicly listed gas producers was similar to May: Regal Petroleum (RPT LN) continued performing negatively, producing 19% less yoy; the Ukrainian subsidiary of JKX Oil & Gas (JKX LN) produced 20% more yoy; and KUB Gaz of Serinus Energy (SEN PW) produced 16% more yoy. The preliminary June data suggest that Regal Petroleum’s average gas output fell 21% yoy to 957 boepd in 1H14. In 2Q14, its gas output dropped 3% qoq to 940 boepd. The Ukrainian subsidiary of JKX Oil & Gas produced 4,156 boepd of gas in 1H14 (+17% yoy), raising its average quarterly output 12% qoq to 4,393 boepd in 2Q14. The Ukrainian subsidiary of Serinus Energy produced 3,480 boepd of gas (net to Serinus), or 15% more yoy, in 1H14. In 2Q14, the subsidiary produced 3,554 boepd of gas (net to parent), up 4% qoq.