UK Oil & Gas plc has announced it has successfully shut-off the source of formation water that entered an oil well at its Horse Hill site in Surrey.
Production at Angus Energy’s Saltfleetby gasfield and oil flow at Balcombe would “mark a turnaround in the group’s fortunes” and bring “material cash flow for the first time”, the company said today.
Union Jack Oil has announced plans to restart an extended well test at the West Newton-A oil and gas site in East Yorkshire.
The decision on Angus Energy’s planning application for an extended well test at Balcombe will not now be made this month.
An Australian mining group has almost doubled its stake in the UK shale gas company, Cuadrilla Resources.
No equipment to identify the source of formation water in the new well at Horse Hill was available in the UK or Europe until next month, the main investor in the Surrey site said today.
Angus Energy has said it will seek a five-year extension to its oil production licence at Brockham in Surrey.
Oil and gas companies have been warned by their regulator to stop “navel gazing” and do much more to solve the challenges of climate change.
The gas production company, Third Energy, formerly owned by Barclays, has been released from a loan of more than £80m, according to its accounts.
Third Energy, the company behind plans to frack in North Yorkshire, has announced it now has no immediate shale gas plans.