Ukraine: KUB-Gas to evaluate two zones at Makeevskoye

KUB-Gas LLC has spudded the Makeevskoye-21 well in the Dnieper-Donets basin in northeastern Ukraine.

Kulczyk Oil Ventures Inc., Calgary, which owns a 70% effective stake in KUB-Gas, said the well is projected to 2,200 m with the R8 zone at 1,450 m as primary objective.

The R8 zone was originally discovered in the M-19 well drilled in the second half of 2010. A secondary objective, a seismic anomaly in the R17 zone at 1,990 metres, will also be evaluated.

The rig move to M-21 took more than 3 weeks longer than expected due to unusually warm weather in eastern Ukraine for much of January that made the transport of heavy loads impossible with existing equipment, Kulczyk Oil said.

The M-19 well went on production in July 2011 at more than 5.5 MMcfd and was projected at that time to average 4 MMcfd gross, or 2.8 MMcfd net to Kulczyk Oil, in the second half of 2011. The actual average was 5 MMcfd, and current output is 5.2 MMcfd or 3.6 MMcfd net.

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