UK Oil & Gas Receives Report for PEDL234 Prospect
Drilling Activity Details
Drilling Activity Summary
Description
UK Oil & Gas has announced results from a report of the Loxley Portland gas discovery lying within its 100% owned and operated PEDL234 license. The report indicates a significant mean case gross gas initially in place (GIIP) of 49 Bcf. The mean gross recoverable resource is cited as 34 Bcf, representing an estimated recovery factor of approximately 70%. The reported high case net in PEDL234 is 76 Bcf and the estimated high case recoverable resource is 54 Bcf. According to the London-based company, results further underline the estimate that the 48 sq km Loxley geological structure contains significant gas volumes, which in a success case of around 4-5 Bcf per year, on an energy equivalent basis. The company is planning to drill #1-Loxley in the second half of 2021.
UK Oil & Gas has announced results from a report of the Loxley Portland gas discovery lying within its 100% owned and operated PEDL234 license. The report indicates a significant mean case gross gas initially in place (GIIP) of 49 Bcf. The mean gross recoverable resource is cited as 34 Bcf, representing an estimated recovery factor of approximately 70%. The reported high case net in PEDL234 is 76 Bcf and the estimated high case recoverable resource is 54 Bcf. According to the London-based company, results further underline the estimate that the 48 sq km Loxley geological structure contains significant gas volumes, which in a success case of around 4-5 Bcf per year, on an energy equivalent basis. The company is planning to drill #1-Loxley in the second half of 2021.