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Cub Energy Inc. announces successful recompletion of the O-3 well in Eastern Ukraine

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Oilfield Technology,

Cub Energy Inc. has announced that KUB-Gas LLC (‘Kub-Gas’), Cub’s 35%-owned subsidiary which owns and operates the eastern Ukraine licenses, has released results of its recent recompletion of the Olgovskoye-3 (‘O-3’) well.

Kub-Gas utilised its own workover rig and crew to recomplete a productive gas sand interval designated as the Bashkirian-1b (‘B-1b’). The well has stabilised at a rate of 1.4 million ft3/d since October 2018.

Mikhail Afendikov, Chairman and CEO of Cub said: “The successful O-3 recompletion coupled with the recent success of the O-9 recompletion in the second quarter of 2018 has increased the total field production by almost 20%. Given the recent successes of the recompletions, their relatively low cost and the high gas price environment in Ukraine at present, Kub-Gas’ priority is to focus on additional recompletion candidates of which at least ten wells have been identified.”.

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