JKX Oil & Gas

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JKX Oil & Gas plc
Type Public (LSEJKX)
Industry Petroleum industry
Founded 1995[1]
Headquarters Cavendish Square, London, England
Key people Lord Fraser of Carmyllie (Chairman of the board), Paul Davies (CEO)
Products Oil and gas exploration and production
Revenue $192.9 million (2010)[2]
Operating income $95.0 million (2010)[2]
Profit $21.2 million (2010)[2]
Employees 480 (2007)[3]
Website www.jkx.co.uk

JKX Oil & Gas plc (LSEJKX) 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 Kenny and Paul Davies as JP Kenny Exploration & Production Ltd in 1995 to search for oil and gas in the former Soviet Union.[5]

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.[6] 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.[7]

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 Anadarko Petroleum Corporation focusing on the Black Sea;[8] while it holds minority interests in several onshore exploration licences in Turkey and eastern Bulgaria.[9][10]

JKX also holds an interest in an oil field in Shelby County, Texas in the United States,[11] a 50% stake in two exploration licences in northern Hungary[12] and bought into three licences in Slovakia in April 2008.[13]

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.[14]

References[edit]

  1. ^ Aldrick, Philip (24 May 2003). "The Questor Column: Caution with Georgia in mind". The Daily Telegraph. Retrieved 2008-06-08. 
  2. ^ a b c "Preliminary Results 2010". JKX Oil & Gas. Retrieved 2011-04-25. 
  3. ^ a b "Annual Report 2007". JKX Oil & Gas. Retrieved 2008-03-28. 
  4. ^ "VTB bought 6.4% of JKX Oil and Gas". RBK Ukraine (Kiev). 23 June 2011. Retrieved 13 July 2011. 
  5. ^ "Investor Presentation". Ascent Resources. Retrieved 2008-09-27. [dead link]
  6. ^ "Operations: Geographical locations: Ukraine". JKX Oil & Gas. Retrieved 2008-06-08. 
  7. ^ Bream, Rebecca (25 July 2007). "JKX unveils move into Russian field". Financial Times. Retrieved 2008-06-08. 
  8. ^ "Operations: Geographical locations: Georgia". JKX Oil & Gas. Retrieved 2008-06-08. 
  9. ^ "Operations: Geographical locations: Turkey". JKX Oil & Gas. Retrieved 2008-06-08. [dead link]
  10. ^ "Operations: Geographical locations: Bulgaria". JKX Oil & Gas. Retrieved 2008-06-08. 
  11. ^ "Operations: Geographical locations: USA". JKX Oil & Gas. Retrieved 2008-06-08. [dead link]
  12. ^ "Operations: Geographical locations: Hungary". JKX Oil & Gas. Retrieved 2008-06-08. 
  13. ^ "JKX Oil & Gas says agrees to acquire stake in 3 exploration licences in Slovakia". AFX News (Forbes). 7 April 2008. Retrieved 2008-06-08. 
  14. ^ "Operations: Asset portfolio: Reserves". JKX Oil & Gas. Retrieved 2008-06-08. 

External links[edit]