The Denver-based oil and gas company, Magellan Petroleum Corporation, has confirmed in a statement that drilling operations at the Horse Hill-1 exploratory oil well near Horley in Surrey began on September 3rd 2014.
The company said the well was expected to be drilled to about 8,700ft to test for oil in Portland sandstone, Corallian sandstone and great oolite formations. It would also investigate a conventional gas target. The statement said the well would be drilled vertically and would not be fracked.
But Oil Voice reports Magellan will have the opportunity to core and log several shale and tight formations in the Cretaceous and Jurassic sections, including the Kimmeridge Clay and Liassic formations. Oil Voice says the company expects the information will “provide valuable insights into the technical and economic viability of unconventional development elsewhere in the Weald Basin”.
The site is off Horse Hill, Hookwood, near Horley, RH6 0HN. It is being operated by Horse Hill Developments, a majority owned subsidiary of Angus Energy. Following an agreement reached in December 2013, Horse Hill Development Limited, carries Magellan’s share of the costs of the well, in exchange for a 65% interest in the well and PEDL license 137.