Type Public (LSE: JKX) Revenue $192.9 million (2010) Headquarters London, United Kingdom Number of employees 480 (2007) | Industry Petroleum industry Operating income Founded 1995 | |
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Key people Lord Fraser of Carmyllie (Chairman of the board), Paul Davies (CEO) Products Oil and gas exploration and production Stock price JKX (LON) 25.02 GBX -0.48 (-1.88%)17 Mar, 11:10 AM GMT - Disclaimer Subsidiaries JKX Bulkan BG, JKX Oil & Gas (Jersey) Limited | ||
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JKX Oil & Gas plc (LSE: JKX) 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%. 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.
Contents
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History
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.
Ukraine and Russia
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. The firm has licence to operate in several mainly-onshore oil fields in the Poltava region. 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.
Rest of the world
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; while it holds minority interests in several onshore exploration licences in Turkey and eastern Bulgaria.
JKX also holds an interest in an oil field in Shelby County, Texas in the United States, a 50% stake in two exploration licences in northern Hungary and bought into three licences in Slovakia in April 2008.
Reserves
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.