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UK Oil & Gas set for horizontal drilling at Horse Hill project

The vertical pilot section of the Horse Hill 2/2z well is now nearing completion, before some 1,000 metres are cut into the Portland reservoir’s “most productive zone”.

UK Oil & Gas PLC - UK Oil & Gas set for horizontal drilling at Horse Hill project

UK Oil & Gas PLC (LON:UKOG) gave investors a drilling update from the Horse Hill oil project, near Gatwick, where the HH-2/2z well programme is now nearing the horizontal phase of drilling.

The company, which with 85.635% is the largest stakeholder in the project, has reported that the pilot well had now been drilled, cased and cemented at around 2,019 feet.

Blowout preventers will be set and tested today, before a short extension is drilled through the ‘coring point’. Here, three cores will be taken from the oil bearing Portland reservoir for analysis.

READ: UKOG ‘confident’ as new drilling kicks off at Horse Hill

Thereafter, the programme will advance toward the ‘kick off point’ from which horizontal drilling will begin. Some 1,000 metres of horizontal drilling is planned into what is expected to be the Portland’s most productive zone.

HH-2/2z is one of two planned horizontal wells that will aim to establish valuable production from the conventional Portland oil pool.

They are intended to be exposed to more of the Portland reservoir than the successful vertical Horse Hill well, which flowed close to 30,000 barrels of crude during extended well testing (the deeper Kimmeridge zones yielded a further 39,000 barrels).

The well is expected to flow at significantly higher production rates than the 362 barrels of oil per day measured whilst testing the vertical Portland section in the current Horse Hill well.

Whilst UKOG is the largest stakeholder in Horse Hill (with a mix of project equity and indirect interests), the other London listed participant in the project is Alba Mineral Resources plc (LON:ALBA) which has an 11.765% interest in Horse Hill Developments Limited, the project operator.

Quick facts: UK Oil & Gas PLC

Price: 1.026 GBX

AIM:UKOG
Market: AIM
Market Cap: £68.58 m
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