The company behind oil exploration at Horse Hill near Gatwick Airport has released further details of the extended well test currently underway.
UK Oil & Gas plc said today analysis of the first stage of testing of the Portland formation suggested that the well had connected to a reservoir containing 7-11 million barrels of oil in place (OIP).
The company described this as:
” a robustly viable commercial volume for a single well”
Stephen Sanderson, chief executive of UKOG said:
“The Portland continues to out-perform our initial expectations and looks set to provide the production and cash flow base that can underpin UKOG’s future growth.
He said the extended well test on the Kimmeridge Limestone 4 layer (“KL4”) had now begun:
“Our immediate operational focus now switches to the Kimmeridge extended well test, which, if successful, has the potential to make Horse Hill one of the UK’s leading onshore producing oil fields and to help unlock the value within our extensive Kimmeridge asset portfolio in the Weald.
Last week, UKOG revealed plans to extend the site and increase the number of wells to six.
5/10/18 Headline picture changed