In March 2013, Hawkley Oil & Gas completed the acquisition of Stoliarovska, a new production licence in Ukraine’s Dnieper-Donets basin.
The third asset in Hawkley’s portfolio, which has a 20 year production licence, was acquired from Ukrgeoinvest for a total consideration of US$2.6m. Hawkley operates the licence with 100% interest and title. Stoliarovska is in close proximity to and on trend with major producing fields and deposits and benefits from excellent local infrastructure, with a trunk line close by and a gas plant within 4km of the licence.
The Stoliarovska licence is located some 25 km east-southeast of Romny in the Sum’ska Oblast, 225 km to the east of Kiev. The licence is some 40 km east-southeast and 60 km north of Hawkley’s Chernetska and Sorochynska licences respectively.
The licence covers an area of some 47 km2 and is located on the southern flank of the South Afanasivska structure, down dip of the South Afanasivska oil and gas field where there is oil and gas production from several levels in the Carboniferous (Visean and Serpukhovian age) and up dip from the Anastasivska gas field. Both fields have been in production for more than 25 years.
Two fault closures have been identified in the licence area for which the Ukrainian State carries unrisked prospective resources of 89.7Bcf gas and 10.4 million barrels of oil. An additional stratigraphic trap has been identified in a Serpukhovian (Middle Carboniferous) channel body which has the potential to contain a prospective resource of 42 Bcf gas.
The reservoir objectives in this area are between 2800m and 3400m, which is significantly shallower than Hawkley’s other permits with associated significant potential for reduced drilling times and costs.
The licence area is covered by a 2003 vintage grid of 2D seismic data. With regards to forward activity on Stoliarovska, Hawkley intends to acquire additional seismic data to mitigate structural risk and identify optimal well locations.