UK Oil & Gas Sites Could Yield 2,500 Barrels Of Oil A Day
Sites owned by "Gatwick Gusher" company UK Oil & Gas could yield as much as 2,500 barrels of oil a day, according to consultants.
"The development studies are only conceptual at this stage and should not be misconstrued so as to convey that recoverable resources, contingent resources or reserves have been proven to exist within the Jurassic limestone tight oil play at Horse Hill or over other Ukog assets in the Weald and Purbeck-Wight basins," the developer said.
It claims the oil could be retrieved with "low impact upon the surrounding environment and locality".
The report says there would be "a low visual impact that has a significantly lower visual profile than existing UK and Weald oil developments" and the well pad would have "a zero above-ground profile".
Stephen Sanderson, Ukog's executive chairman, said: "These studies are an essential part of our Jurassic limestone tight oil 'proof of concept' process, as they enable the company to gain an initial understanding of the scope, potential economics and operational viability of a possible future development of the Kimmeridge limestones in multiple sites over our licences whilst considering how to keep the environmental impact to a minimum to respect the rural beauty and way of life of the south east of England.
"Clearly we will be in a better position to refine our view of the economics of the wider tight oil play over the area following the planned flow test of the Horse Hill-1 well.
"We will now also deploy these valuable learnings regarding low impact facilities options to our proposed development of the Markwells Wood conventional Great Oolite limestone discovery, and to further economic evaluation and appraisal of the conventional Upper Portland sandstone discovery at Horse Hill."
- City AM
- Published on:
- October 5, 2015
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