Business
Horse Hill-1 - 50,000 Barrels of Oil Production
Horse Hill-1 - 50,000 Barrels of Oil Production.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 7383B UK Oil & Gas PLC 11 June 2019 \n\nUK Oil & Gas PLC\n(\"UKOG\" or the \"Company\")\n \nHorse Hill-1 Test Hits Landmark 50,000 Barrels of Oil Production \n \nUK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that, as at close of business on Friday 7th June, total aggregate Portland and Kimmeridge test oil production from the Horse Hill oil field, in which the Company has a 50.635% majority interest, reached a significant landmark of 50,000 barrels (\"bbl\") of light, sweet, dry oil. Total aggregate test production now stands at 50,871 bbl.\n \nHorse Hill-1 continues to produce Portland oil at a stable rate of over 220 barrels of oil per day (\"bopd\") via a modest pressure draw down. The Portland has now delivered an aggregate total of 25,777 bbl to date, exceeding the 25,094 bbl produced from the deeper Kimmeridge. During the test, no formation water has been produced from either the Portland or Kimmeridge reservoirs.\n \nPortland test production is now planned to continue until the second half of June when final site preparations for simultaneous HH-2/2z Portland drilling and HH-1 Kimmeridge production operations will commence. To facilitate both safe drilling and coring of HH-2/2z through the Portland, to provide continued oil sales revenues and further valuable test data prior to drilling HH-1z, preparations will include switching test production to the deeper Kimmeridge oil pool. Further necessary logistic and administrative arrangements for the arrival of the drilling rig and associated services are scheduled to be finalised this week.\n \nThe Horse Hill oil field and surrounding highly prospective PEDL137 and PEDL246 licences are operated by UKOG's subsidiary company Horse Hill Developments Ltd, in which UKOG holds a 77.9% direct interest.\n \nHorse Hill 2018-19 EWT Oil Production Milestones:\n \n· 50,871 bbl aggregate Kimmeridge and Portland oil production \n· 25,777 bbl total Portland production \n· 25,094 bbl total Kimmeridge oil production\n· No discernible formation water produced from either reservoir\n· Stable Portland test production continues to prove more oil in the ground\n \nStephen Sanderson, UKOG's Chief Exe...