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Commencement of Production at ASX-1X Discovery
Commencement of Production at ASX-1X Discovery.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4477P\n United Oil & Gas PLC\n 19 October 2021\n \n \n \n \n United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas\n \n \n 19 October 2021\n \n \n United Oil and Gas Plc \n \n \n (\"United\" \"the Group\" or the \"Company\")\n \n \n Commencement of Production at ASX-1X Discovery\n \n \n United Oil & Gas PLC (AIM: \"UOG\"), the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets is pleased to provide the following update on the ASX-1X well in the Abu Sennan licence, onshore Egypt.\n \n \n Highlights\n \n \n · \n Commercial discovery declared at the ASX-1X exploration well\n \n \n · \n Approval granted from the Minister of Petroleum of the award of a development lease covering this new discovery on 12 October 2021\n \n \n · \n Partner confidence and experience in Abu Roash C (\"AR-C\") reservoirs led to the well being brought straight onto production three weeks after initial drilling results\n \n \n · \n Initial production flow rates from the AR-C of 870 bopd gross (191 bopd net) on a 64/64\" choke\n \n \n · \n ASX-1X is the second exploration success to be brought on stream on the Abu Sennan licence in 2021 \n \n \n \n \n \n ASX-1X Well\n \n \n The ASX-1X well is located 7km to the north of the producing Al Jahraa Field. It safely reached a Total Depth of 4,272m, several days ahead of schedule and under-budget\n . \n \n \n Preliminary results suggest the well encountered a combined net pay total of at least 10m across a number of reservoir intervals, including the primary reservoir targets of the AR-C. Based on further interpretation of the well data, there was sufficient confidence for the operator, Kuwait Energy Egypt, to submit notice of a commercial discovery at ASX-1X and an application for a 11.92km2 development lease to EGPC. On 12 October 2021, the Minister of Petroleum approved the award of this ninth development lease within the Abu Sennan licence. Production has now commenced from the AR-C reservoir with initial gross rates of 870 bopd (191 bopd net), achieved on a 64/64\" choke. This is an exceptionally quick turnaround of just three weeks from announcing the initial exploration well results to securing a development lease and bringing this new discovery onto production and...