Ukrainian shale explorer granted more areas for work, but says business climate too cost prohibitive to start drilling campaign. File Photo by ekina/Shutterstock LONDON, May 18 (UPI) — Junior shale explorer JXK Oil & Gas said Monday it was granted more areas for work in Ukraine, though the cost of business was still prohibitive to drilling. JXK, which has headquarters in London, said Ukrainian authorities expanded by 13 square miles its production license in the Elizavetovskoye area, to bring the total to 40 square miles. The company started a multistage hydraulic fracturing operation in Ukraine in 2013, describing it as likely the largest operation of its kind in Europe to date. The company said it was pleased with the license expansion, but was unable to continue with operations in the country. “This further award is recognition of our ability to develop the potential of our Ukrainian licenses,” JKX Chief […]