JKX Oil & Gas to begin well treatment in Russia

JKX Oil & Gas said Thursday that it has begun the hydrochloric acid treatment of three wells on the Koshekhablskoye Field in the Republic of Adygea, Russia.

JKX Oil & Gas said Thursday that it has begun the hydrochloric acid treatment of three wells on the Koshekhablskoye Field in the Republic of Adygea, Russia.

The firm said the aim of the programme is to enhance well productivity by improving conditions in the near wellbore and the removal of residual drilling solids in the open-hole sections.

The work is expected to begin in the very near future and be completed within seven to 10 days.

JKX Chief Executive, Dr Paul Davies, said only that the company is "pleased to have the hydrochloric acidisation programme underway" and is looking forward to having all three wells in production by mid-March.

The acid treatment will use a total of 25 cubic metres of 15% hydrochloric acid solution together with inhibitors to regulate the rate of the reaction process. Pump pressure will be maintained well below the formation fracture pressure to ensure that the treatment is kept to the near well-bore area.

The share price fell 2.12% to 57.75p by 14:57.

NR

Recommended

Which assets will benefit as the “jam tomorrow” bubble pops?
Investment strategy

Which assets will benefit as the “jam tomorrow” bubble pops?

With tech stocks, cryptocurrencies and many other “long duration” investments crashing hard, the “jam tomorrow” bubble looks to be bursting. John Step…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Share tips of the week – 21 January
Share tips

Share tips of the week – 21 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
21 Jan 2022
Seven cheap defence stocks to buy now
Share tips

Seven cheap defence stocks to buy now

We’ve got used to a world without war between major powers, but that era is coming to an end as Russia threatens Ukraine and China eyes Taiwan. Buy de…
21 Jan 2022

Most Popular

Shareholder capitalism: why we must return power to listed companies’ ultimate owners
Investment strategy

Shareholder capitalism: why we must return power to listed companies’ ultimate owners

Under our system of shareholder capitalism it's not fund managers, it‘s the individual investors – the company's ultimate owners – who should be telli…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Temple Bar’s Ian Lance and Nick Purves: the essence of value investing
Investment strategy

Temple Bar’s Ian Lance and Nick Purves: the essence of value investing

Ian Lance and Nick Purves of the Temple Bar investment trust explain the essence of “value investing” – buying something for less than its intrinsic v…
14 Jan 2022