Production at the Horse Hill oil site in Surrey fell by 25% in May 2020, according to the most recent figures released by regulators today.
Data from the Oil & Gas Authority (OGA) showed that oil from the site, previously nicknamed the “Gatwick Gusher”, dropped by more than 200 tonnes compared with the total for April.
The May figure, at 736 tonnes, or 177 barrels a day, was also below the level of March 2020. That was the first available production figure from the OGA and, according to the site’s main investor, UK Oil & Gas, was not for a full a month. (First official Horse Hill oil production data)
In May 2020, Horse Hill just held on to its fourth-place ranking for tonnage of oil produced onshore in the UK. The site’s monthly total was half a tonne higher than the fifth placed field, the IGas-operated Stockbridge in Hampshire.
Today’s data also showed that water production from Horse Hill rose dramatically in May 2020 to 87.6 tonnes. This was up from 0.9 tonnes in both March and April 2020.
DrillOrDrop asked UK Oil & Gas (UKOG) for an explanation for May’s fall in oil and increase in water production at Horse Hill. The company has not responded to our questions.
The OGA data is based on information reported by field operators. The figures for Horse Hill date from the grant of consent for long-term production on 12 March 2020.
UKOG had made statements about the level of oil production from the first well at the site, called HH-1, before the formal consent was granted.
The company’s interim accounts for the six months to March 2020 said HH-1 had “continued producing at high rates of over 300 bopd almost continuously”.
In the same document, released in June 2020, UKOG said it had installed a “higher capacity and energy efficient linear rod pump” on HH-1 after the end of the accounting period. This led to “increased production from the Portland interval”, it said.
As predicted, nothing else to add except wait for June / July for more of the same x
Your “as predicted” is actually unusually accurate, Jono. Interesting (LOL) that DoD were unable to offer any further details as to why production levels were lower and there was increased water reference May ie. “as predicted”.
Seems many were already aware. However, that would make a very different report!
Thank you for your I was right Martin , it’s not a short term fix , it’s long term and I do have something to prove it. Interesting silence from the bespectacled one in pink trousers at UKOG, he is still enjoying a fat salary while others seem slightly rattled at the
lack of information forthcoming from site
This is interesting Martin don’t you think?
There are plenty of ways to spend my time without resorting to Mystic Meg areas. Time will tell. Antis are so very impatient and seem to require constant jolts of speculation to keep them excited. Leaning against an electric fence is an alternative. Sorry, not my thing although it now seems to be mainstream. (Noticed an article in the Times recently “reporting” on the new Whitehall appointment. Basically stated from one “source” the appointment was doomed, and another “source” that he would be a raging success! Perhaps the salaries of such “journalists” should be moderated? Or, just change the terminology away from “news” paper?)
In terms of other peoples salaries it has never been a concern to me. If Mr. Musk needs all those $BILLIONS to fuel his lifestyle, so be it. (There-your Tesla infusion.) I do find it a bit odd for those who claim to be share holders in a high risk company hoping for high rewards to post comments that are concerned with how other people make money! One might be forgiven for believing that maybe some of them are not what they make themselves out to be! Nah, couldn’t be so. Never seen on the Internet, is it?
I, like yourself, read the UKOG posts. But, I do the maths. The comments come from the same “individuals” who between them represent a small proportion of the share holders-and a number of them not even within that category. On a daily basis there are still high numbers of shares being purchased, so it looks as if there are a few who want to make their views known, for their own reasons, but many who just get on with doing what they think is the thing to do.
It is not that difficult for share holders to correct directors pay if there is enough of them to push on it.
No fracking in the Fylde
No earthquakes in the Weald
Only a chicken farm in a field
To protest about today!
Thin gruel at present I guess although a local chicken farm is not so welcome locally (but the debate is pretty even on face book)
Maybe local non chlorinated chicken production may well succeed.
But here are some other predictions to follow or look back on …..
Distressed shale assets from the last boom. Many of the M&A deals in U.S. shale following the 2014-2016 oil market downturn are now “unworkable,” according to Reuters. Of the 50 largest acreage purchases between 2016 and 2019, 31 of them only add value if Brent trades above $50 per barrel. For instance, Diamondback Energy (NASDAQ: FANG) paid roughly $54,977 per acre when it purchased Energen in 2018, a deal that would now breakeven if Brent averaged $77 per barrel…….. (US Shale oil and gas production not sustainable)?
EVs still costly to produce. EVs will remain more costly to manufacture than traditional gasoline and diesel-fueled vehicles for the rest of the decade, according to new research. EV manufacturing costs could average 16,000 euros by 2030, or 9 percent higher than conventional cars. ………(EVs need more subsidy)?
Goldman: Oil prices to jump to $65. Goldman Sachs expects Brent crude to reach $65 a barrel in the third quarter of 2021, although it could end the year lower, at $58 a barrel, according to Goldman Sachs analysts. “There is a growing likelihood that vaccines will become widely available starting next spring, helping support global growth and oil demand, especially jet,” the Goldman analysts said. (Despite Q Anon a vaccine will turn up). ………… Actually this one is interesting. A friend told me that ‘big pharma’ will make billions from a vaccination when produced – so I asked him how much of his cash he was investing in big pharma (as clearly it was a no brainer – and he was convinced he was right ). Answer – not a penny! ie opinion is fine, but when you have to put your money where your mouth is?
Biden: “I am not banning fracking”: In a speech on Monday in Pittsburgh, Biden dismissed accusations that he would target oil and gas drillers. “I am not banning fracking. Let me say that again. I am not banning fracking. No matter how many times Donald Trump lies about me,” Biden said. ………No need looking at the first paragraph above. Maybe he will ban chlorinated chicken?
Your chlorinated chicken has been overtaken by lactic acid treatment. (Strangely, just as UK utilizes for a lot of beef.) I would still chomp my chicken in Hooters if I visited USA, and be content to help some young ladies through college!
Noted an interesting comment regarding the US stock markets yesterday.
Asked why the markets are at record highs in US although the economy is still largely in lock down, it was explained that if the Fed. injects $5 TRILLION (a figure that many have had difficulty comprehending) and offers to do more if required, the market reflects that rather than the economy ie. the economy will be sustained by the Fed, for as long as it takes. Which bits of the economy are sustained the best is probably the answer to where investments will be primarily directed. Let’s hope the booming gun sales are a short term blip, and that other industries get their support.
June was the month they finally admitted they were having production problems with HH-1. Looking at intervention and the number of “waste” tankers leaving that month I expect the June figures to have less oil and more water production. July and August were the first months when they were running 24/31.