Shelton Petroleum: Numbers Dip Due to Frac Program
Shelton Petroleum’s total oil production in August 2013 amounted to 16,190 barrels, equivalent to 522 barrels per day.
The previously announced fracking program of well RS#1 and the new well #11 on the Rustamovskoye oil field in Russia was commenced in August. During fracking, the wells are taken out of production, which explains the lower volumes in August compared to previous months this year.
| Lelyaki | 10,460 | 10,800 | 82,065 | 80,100 | 119,950 |
| Rustamovskoye | 5,730 | 6,500 | 52,465 | 31,300 | 57,900 |
| Total barrels | 16,190 | 17,300 | 134,530 | 111,400 | 177,850 |
| Lelyaki | 337 | 348 | 338 | 328 | 328 |
| Rustamovskoye | 185 | 210 | 216 | 128 | 158 |
| Total barrels per day | 522 | 558 | 554 | 457 | 486 |
Fracking is a method of breaking up the rock of the reservoir by inserting fluids with additives under pressure. It allows for oil to flow more freely in the reservoir into the wellbore and the objective is to increase future flows from the wells.
Shelton Petroleum holds 100% of the Rustamovskoye license in Russia. Shelton Petroleum has a 45% working interest in Kashtan Petroleum (holder of the license to the Lelyaki oil field) through its wholly owned subsidiary Zhoda 2001 Corporation. Ukrnafta, Ukraine’s largest oil and gas company, owns the remaining 55%. The production data in the table above represents Shelton Petroleum’s working interest.
