Sign Up

Register for Updates

Dnieper-Donets Basin

Located in Eastern Ukraine, the Dnieper-Donets Basin has produced vast amounts of coal, oil and gas. Despite the long history of production, this vast 31,000 km2 region still has immense untapped potential.  Cub’s application of western drilling technology combined with high domestic natural gas prices has resulted in wells with rapid payback periods and high IRRs for the Company.

Cub Energy is well served by transport infrastructure in the area with five gas processing facilities and a network of flow lines totaling more than 40 km, to enable the production and sale of natural gas.  Additional assets include two service rigs, a snubbing unit, inventory of spare parts, support vehicles, land and buildings. The facilities and equipment are held by Kub-Gas LLC, in which Cub Energy holds a 35% interest.

Cub has a 35% interests in six licenses in the Dnieper Donets basin.


 

Licence Summary

Licence Cub Interest Type Gross Area
Olgovskoye 35% Production licence 22,000 acres
West Olgovskoye 35% Production licence 111,000 acres
Makeevskoye 35% Production licence 18,000 acres
Vergunskoye 35% Production licence 2,000 acres
Krutogorovskoye 35% Production licence 3,000 acres
North Makeevskoye 35% Exploration licence 47,000 acres

 

[+] Dnieper-Donets Basin (35% working interest through Kub-Gas)

OLGOVSKOYE FIELD

The Olgovskoye field has a 20-year production permit with proven commercial production from several proven reservoirs. The field has ten producing wells from seven producing zones. The recent Serpukhovian discovery has added follow on appraisal/development opportunities as well as offset development opportunities to its recent deeper pool discovery. The recently expanded and upgraded facility more than doubled its capacity.

WEST OLGOVSKOYE FIELD

The West Olgovskoye field has a 20-year production permit and is located in the Kharkiv oblast. This licence immediately offsets the Olgovskoye and North Makeevskoye licences and surrounds the existing Druzhelyubovskoe field (owned by a third party).

MAKEEVSKOYE FIELD

The Makeevskoye field has a 20-year production permit with six producing wells from four producing zones. The recent Serpukhovian discovery has added follow on appraisal/development opportunities as well as further stratigraphic plays. There are numerous prospective areas for further exploration and development as well as frac and dual completion opportunities.

KRUTOGOROVSKOYE FIELD

The Krutogorovskoye field was recently granted a 20-year production permit. A well indicated five potential gas zones in the Bashkirian and Serpukhovian sands.

VERGUNSKOYE FIELD

The Vergunskoye field has a 20-year production permit with proven commercial hydrocarbonsproduction from several proven reservoirs.

NORTH MAKEEVSKOYE

A recent North Makeevskoye exploration well recovered oil and gas from Visean-aged rock formations underlying the North Makeevskoye field from a reservoir that has not been produced from previously but is an important producing formation in the central part of the basin. A positive result from this deeper Visean reservoir has the potential to develop into a new play and increase the resource potential. Commerciality will depend on successful stimulation.