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Oil & Gas

UKOG independent evaluation estimates billions of barrels in Weald basin

UK Oil and Gas (UKOG) said it has received an oil in place (OIP) evaluation from US specialist Nutech which shows more than 15 billion barrels of oil could lie within the Weald basin area. The company said it had asked Nutech to conduct its study over eight of the licence area in which it has interest in Southern England. Nutech estimated 15.7billion barrels could lie within three Jurassic shale and interbedded limestone tight oil plays underlying the eight licence areas in the Weald basin.

Oil & Gas

UKOG has planning permission extended for West Sussex licence

UK Oil & Gas (UKOG) said planning permission for the Markwells Wood-1 site in West Sussex has been extended until next year. The company said the local planning authority approved the move for the well site in the South Downs National Park. UKOG owns a 100% interest in the Markwells Wood licence and is currently working on a field development plan which could then be submitted to the Oil and Gas Authority (OGA) for approval to move the licence from its current exploration phase into an 18-year production period.

Oil & Gas

UK Oil & Gas receives oil studies from Xodus

UK Oil & Gas said it has received conceptual oil development studies from Xodus Group as part of its ongoing evaluation to explore the viability of the Jurassic Kimmeridge limestone tight oil play. The company has an interest in the 11 licences in the Weald and Purbeck-Wight Basins of Southern England. The conceptual studies are based on developing multiple potential sites in across the licences.

Oil & Gas

Horse Hill analysis estimates more than 10 billion barrels of oil

UK Oil & Gas (UKOG) said an independent analysis by Schlumberger has estimated 10.9billion barrels of oil could lie within 55miles of the PEDL137 and PEDL246 Horse Hill licences. The estimate follows on previous calculations made by Schlumberger last month. The analysis also builds on the previous petrophysical evaluation of Horse Hill-1 located in PEDL137 near to London Gatwick Airport.

Oil & Gas

UKOG forms alliance to explore Horse Hill-1 potential

UK Oil and Gas (UKOG) has signed an alliance and consulting services agreement with US-based NUTECH Energy Alliance. The companies will work together to maximise the potential value of the Horse Hill area licences in England. NUTECH have previously analysed thousands of wells for oil majors in around 80 countries and last year completed a detailed analysis of the conventional potential of 381 UK onshore wells.