Regal Petroleum continues ramping up its hydrocarbon production and improving its financial performance13.09.2019
British company Regal Petroleum, a part of Smart Energy, has increased its aggregate average daily hydrocarbon production by 50% for six months of 2019 compared with the same period last year, whereas company’s revenue has increased by 27%.
Regal Petroleum plc, British public company (a part of Smart Energy Group), announced an updated assessment of reserves at Vasyschyvske gas and condensate field in Kharkiv region. The study estimated considerable increase of 1P and 2P reserves.
Smart Energy Group of companies allocated funding in the amount of 1.7 mln UAH to develop community social infrastructure as well as to charity.
British company Regal Petroleum plc (a part of Smart Energy Group) increased its total average daily hydrocarbon production by 44% from 2829 to 4073 boepd in Q2 2019 compared with the same period of the last year.
During the first three months Smart Energy Group of companies transferred 10 million UAH of royalty to local budgets of Poltava and Kharkiv regions.
British company Regal Petroleum plc, which is a part of Smart Energy, gained 54.3 million USD of net profit in 2018. Herewith its net profit in 2017 was 2.3 million USD.
Regal Petroleum plc increased its average daily production of hydrocarbons in the first quarter of 201905.04.2019
Public British Company Regal Petroleum plc (part of Smart Energy) increased its average daily hydrocarbon production during the first quarter of 2019 by 51.4% in the fields of Poltava region and by 69% in the fields of Kharkiv region, compared with the same period last year.
Smart Energy Group achieved its important strategic objective – 1 million m3 of daily gas production.
As of year-end 2018, Smart Energy Group showed a significant 31% increase in hydrocarbon production. As early as in February 2019, drilling of a new exploration well began in Poltava region. Victor Dudzich, technical director of Smart Energy, will tell us about promising technologies and what helped the company boost its production.