Shelton Petroleum’s total oil production in August 2013 amounted to 16,190 barrels, equivalent to 522 barrels per day.
The table below summarizes the production broken down by oil field.
|
|
August 2013 |
August 2012 |
Jan-Aug 2013 |
Jan-Aug 2012 |
Jan-Dec 2012 |
|
Lelyaki |
10,460 |
10,800 |
82,065 |
80,100 |
119,950 |
|
Rustamovskoye |
5,730 |
6,500 |
52,465 |
31,300 |
57,900 |
|
Total barrels |
16,190 |
17,300 |
134,530 |
111,400 |
177,850 |
|
|
|
|
|
|
|
|
Lelyaki |
337 |
348 |
338 |
328 |
328 |
|
Rustamovskoye |
185 |
210 |
216 |
128 |
158 |
|
Total barrels per day |
522 |
558 |
554 |
457 |
486 |
The previously announced fracking program of well RS#1 and the new well #11 on the Rustamovskoye oil field in Russia was commenced in August. During fracking, the wells are taken out of production, which explains the lower volumes in August compared to previous months this year.
Fracking is a method of breaking up the rock of the reservoir by inserting fluids with additives under pressure. It allows for oil to flow more freely in the reservoir into the wellbore and the objective is to increase future flows from the wells.
Shelton Petroleum holds 100% of the Rustamovskoye license in Russia. Shelton Petroleum has a 45% working interest in Kashtan Petroleum (holder of the license to the Lelyaki oil field) through its wholly owned subsidiary Zhoda 2001 Corporation. Ukrnafta, Ukraine's largest oil and gas company, owns the remaining 55%. The production data in the table above represents Shelton Petroleum’s working interest.
For more information, please contact:
Robert Karlsson, CEO, Shelton Petroleum, +46 709 565141
robert.karlsson@sheltonpetroleum.com
www.sheltonpetroleum.com
About Shelton Petroleum
Shelton Petroleum is a Swedish company focused on exploring and developing concessions in Russia and the resource-rich basins of Ukraine. In Russia, the company holds three licenses in the Volga-Urals area in Bashkiria and has commenced production on the Rustamovskoye field after a successful exploration program. In Ukraine, Shelton Petroleum’s wholly owned subsidiary has a joint venture with Ukrnafta and Chornomornaftogaz, two leading Ukrainian oil and gas companies. The Shelton Petroleum share is traded on NASDAQ OMX Stockholm under the under the symbol SHEL B.