JKX Oil & Gas

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JKX Oil & Gas plc
Company typePublic company
LSE: JKX
IndustryPetroleum industry
Founded1995[1]
HeadquartersCavendish Square, London, England
Key people
Lord Fraser of Carmyllie (Chairman of the board), Paul Davies (CEO)
ProductsOil and gas exploration and production
Revenue$192.9 million (2010)[2]
$95.0 million (2010)[2]
$21.2 million (2010)[2]
Number of employees
480 (2007) [3]
Websitewww.jkx.co.uk

JKX Oil & Gas plc is a British-based hydrocarbon exploration and production company, listed on the London Stock Exchange. JKX operates primarily in Russia and Ukraine, but has a presence in six other countries in Europe and North America. In June 2011, VTB Capital plc, a subsidiary of Russian state bank VTB, increased its share in JKX Oil & Gas to 6.4%.[4] The deal makes VTB bank the fourth largest shareholder in the company. Ihor Kolomoyskyi, the co-owner of Privat Group, remains the largest shareholder in JKX with a 27.06% stake.

History[edit]

The Company was founded by John Patrick Kenny and Paul Davies as JP Kenny Exploration & Production Ltd in 1995 to search for oil and gas in the former Soviet Union.[5]

In November 2021, the company announced its intention to buy in 23.3% of the company's shares and delist from the London Stock Exchange.[6]

Operations[edit]

Ukraine and Russia[edit]

The company concentrates principally on projects in Ukraine and Russia. In the former, JKX is the dominant private enterprise in exploration and production, accounting for over three-quarters of all oil and almost half of all gas produced by non-state-owned companies.[3] The firm has licence to operate in several mainly-onshore oil fields in the Poltava region.[7] The company moved into Russia in 2007 with the $50 million purchase of Yuzhgazenergie, which holds the licence to exploit a gas field in the Koshekhablsky District in the south of the country.[8]

Rest of the world[edit]

JKX also has investments in six other countries around the world: in Georgia it has a small stake in an exploration firm operated by Occidental Petroleum focusing on the Black Sea;[9] while it holds minority interests in several onshore exploration licences in Turkey and eastern Bulgaria.[10][11]

JKX also holds an interest in an oil field in Shelby County, Texas in the United States,[12] a 50% stake in two exploration licences in northern Hungary[13] and bought into three licences in Slovakia in April 2008.[14]

Reserves[edit]

As of the end of 2007, JKX claimed reserves of 4.6 million barrels (730,000 m3) of crude oil and 71.6 billion cubic feet (2.03 km3) of natural gas.[15]

See also[edit]

References[edit]

  1. ^ Aldrick, Philip (24 May 2003). "The Questor Column: Caution with Georgia in mind". The Daily Telegraph.
  2. ^ a b c "Preliminary Results 2010". JKX Oil & Gas. Archived from the original on 2012-09-21. Retrieved 2011-04-25.
  3. ^ a b "Annual Report 2007". JKX Oil & Gas. Archived from the original on 2008-04-29. Retrieved 2009-03-28.
  4. ^ "VTB bought 6.4% of JKX Oil and Gas". RBK Ukraine. Kiev. 23 June 2011. Archived from the original on 25 June 2011. Retrieved 13 July 2011.
  5. ^ "Investor Presentation" (PDF). Ascent Resources. Archived from the original (PDF) on September 15, 2007. Retrieved 2008-09-27.
  6. ^ "JKX Oil&Gas plc announced its intention of delisting and re-trading shares at London Stock Exchange — EXPRO Consulting". expro.com.ua. 4 November 2021.
  7. ^ "Operations: Geographical locations: Ukraine". JKX Oil & Gas. Archived from the original on 2008-09-14. Retrieved 2008-06-08.
  8. ^ Bream, Rebecca (25 July 2007). "JKX unveils move into Russian field". Financial Times. Retrieved 2008-06-08.
  9. ^ "Operations: Geographical locations". JKX Oil & Gas.
  10. ^ "Regions". JKX Oil and Gas.
  11. ^ "Operations: Geographical locations: Bulgaria". JKX Oil & Gas.
  12. ^ "Operations: Geographical locations". JKX Oil & Gas.
  13. ^ "Operations: Geographical locations: Hungary". JKX Oil & Gas.
  14. ^ "JKX Oil & Gas says agrees to acquire stake in 3 exploration licences in Slovakia". Forbes. AFX News. 7 April 2008. Archived from the original on April 11, 2008. Retrieved 2008-06-08.
  15. ^ "Operations: Asset portfolio: Reserves". JKX Oil & Gas. Archived from the original on 2008-09-14. Retrieved 2008-06-08.

External links[edit]

Retrieved from "https://en.wikipedia.org/w/index.php?title=JKX_Oil_%26_Gas&oldid=1066065961"