The leading company behind exploration at the Horse Hill oil site near Gatwick said total production from the flow test so far had reached nearly 14,000 barrels.
In a statement to investors today, UK Oil & Gas said most of the oil – 10,248 barrels – had come from the Kimmeridge KL3 zone of the well. The result made the zone “commercially viable”, it said
The company said the KL3 zone had initially produced oil at a rate of 771 barrels of oil a day (bopd). The average rate over the 30 day test period was 342 bopd.
UKOG said more than 40 road tankers, each carrying 220 barrels of KL3 crude oil, had been exported to the Hamble oil terminal. About 500 barrels of stock tank oil remaining at the site, it said.
Today’s statement added that the KL3 flow test had produced 3.5 million cubic feet of gas. The flow test from the Portland formation had produced 3,672 barrels. No formation water had returned to surface from either the Kimmeridge or Portland formations.
Stephen Sanderson, UKOG’s Chief Executive, said the results “firmly establishes Horse Hill as a commercially viable oil field”.
He described this as “the most significant milestone” in UKOG’s history. He added:
“The Company will spare no effort to push Horse Hill towards full time production in late 2019/early 2020.”
UKOG said it would next text the KL4 section of the well.