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Kimmeridge Oil Production Continues at HH-1
Kimmeridge Oil Production Continues at HH-1.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 1919N UK Oil & Gas PLC 16 January 2019 \n\nUK Oil & Gas PLC\n(\"UKOG\" or the \"Company\")\n \nKimmeridge Oil Production Continues at Horse Hill-1 (\"HH-1\") \n \nUK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that Horse Hill Developments Ltd (\"HHDL\"), a UKOG subsidiary company and the operator of the Horse Hill oil field, has informed the Company that sustained production continues to be maintained from the HH-1 extended well test (\"EWT\") programme, achieving a gross aggregate total of over 25,000 barrels (\"bbl\") to date, a significant production milestone. Of the aggregate total, over 21,000 bbl has been produced to date from the Kimmeridge Limestone (\"KL\") oil pool, more than doubling November's reported Kimmeridge production total. No formation water has been returned to surface during the entire EWT. Dry oil and solution gas production continues from HH-1.\n \nBased on the continued Kimmeridge EWT success and October's announcement of Portland commercial viability, HHDL plans to continue HH-1 EWT production until the expiry of current permits in spring 2019 and then to move directly into the drilling and long term testing of two new horizontal wells, HH-2 and HH-1z, for which UKOG's internal funding, planning consent and environmental permits are in place. HH-1 is located in licence PEDL137 in which UKOG holds a 46.735% beneficial interest.\n \nKey EWT results to date are summarised below:\n \nHorse Hill 2018-19 EWT Oil Production Milestones:\n \n· Over 25,000 bbl total aggregate Kimmeridge and Portland oil production since early July.\n· Over 21,000 bbl total Kimmeridge oil production since mid-October.\n· 114 tankers of crude successfully exported to Perenco's Hamble oil terminal. The KL's 40° API Brent quality crude continues to be sold at prevailing Brent crude oil prices, less a small deduction for handling and marketing.\n \nKL EWT Update:\n \n· KL4 production from a 103 ft perforated interval commenced during late November, yielding 2,192 bbl at a maximum half-hourly metered rate of 584 barrels of oil per day (\"bopd\") and at an average sustained daily continuous rate of 300 bopd over the subsequent week.\n· F...