| Type | Public (LSE: JKX) |
|---|---|
| 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 (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%.[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.
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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]
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]
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]
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]