Cadogan Petroleum PLC reported production results for the year 2017. Oil and gas production in 2017 increased by 34% over the corresponding period last year. The average daily production rate through the year was 167 boepd (155 boepd net to Cadogan) and the year-end exit rate was 190 boepd (176 net to Cadogan). The increase in production levels is due to successful work-overs and the implementation of production optimisation programs. Combined, these operations increased oil production from the Monastyretska field by 78% and kept gas production constant, despite the high level of depletion from the two producing fields.

The company provided earnings guidance for the year 2018. For the year 2018, the company's net production expected to exceed 200 boepd as the company continues to implement production enhancement activities.