Cub Energy Inc. has reached record production levels with the tie-in of the Makeevskoye-16 (M-16) well in Eastern Ukraine. The well is operated by KUB-Gas LLC (KUB-Gas), a partially-owned subsidiary in which Cub has a 30% effective ownership interest.

The M-16 well commenced production from the S5 zone in late May and produced an average of 2.71 million cubic feet per day (MMcf/d) (0.81 MMcf/d net) of natural gas during the first four days after tie-in. Gross natural gas production for KUB-Gas during that period increased to approximately 28.5 MMcf/d (8.55 MMcf/d net to Cub) or 4,750 barrels of oil equivalent per day (Boe/d) (1,425 Boe/d net to Cub).

Tags: CUB Energy Inc.