OGA Grants Consent for Horse Hill Flow Test
The UK's Oil and Gas Authority has granted consent for an extended flow test over three separate zones in the Horse Hill-1 discovery well, near Gatwick Airport in southern England, according to partners in the Horse Hill licenses.
In October 2014, Horse Hill-1 made an oil discovery that was estimated to contain up to 20 million barrels. More recently, in August 2015, oilfield services firm Schlumberger estimated that there could be 11 billion barrels of oil held within tight limestone and shale formations in the 55-square mile Weald Basin area covered by the PEDL137 and PEDL246 Horse Hill licenses. There has since been an estimate from US reservoir analysts Nutech that some 15.7 billion barrels could exist in the Weald Basin, mostly contained within the Kimmeridge Clay Formation.
UK Oil & Gas Investments Executive Chairman Stephen Sanderson commented in a company statement:
"The extended test will provide the company with a very definitive start to the New Year. We look forward to safe and successful operations."
Solo Oil Chairman Neil Ritson said in a separate statement:
"We are pleased that consent to flow test the HH-1 discovery well has now been agreed by all relevant authorities. The results of the test will be important in determining the viability of a Portland oil development and will help to shape a development strategy. We hope that the test will also provide additional data on the Kimmeridge tight oil play in the Weald Basin.
"The company will to report the results of the test when known in due course."
UKOG holds a 31-percent interest in Horse Hill Developments Ltd (HHDL) – a special-purpose company that owns a 65-percent stake in the PEDL137 and PEDL246 licenses. Solo Oil holds a 10-percent interest in HHDL.
WHAT DO YOU THINK?
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