After Kerry Kendrick took the position of operational director of the company, a thourough analysis of operations in Western Ukraine took place, told the head of the Cub Energy board of directors Mr. Mikhail Afendikov. As a result, the company management concluded that a new NRU would be the best option for Cub Energy to restart production and tap cash flows out of the company's wholly-owned Russko-Komarovsky field.
The new equipment will start to operate in Ukraine by the end of the current year.
As of April 1, 2016, the Russian-Komarovsky field suspended production due to the fact that the nitrogen content of natural gas from the existing wells exceeded the permissible limits under the Code of Gas Distribution Systems.
Cub Energy Inc is headquartered in Houston, Texas, and is one of the five largest private oil and gas operators in Ukraine.
Among its Ukrainian assets there is a 40% stake in the Ukrainian oil and gas company KUB-Gas, which develops the Olgovskoye, Makeevsky, Severo-Makeevskoye, Vergunskoye and Krutogorivskoye fields in the Don and Dnieper Basin. The company also owns Tysagaz which has four gas licenses for Russko-Komarovsky, Stanovsky, and Korolevsko gas fields in the Uzhhorod exploration area.
