UK Oil and Gas

This article needs to be updated. Please help update this article to reflect recent events or newly available information. (June 2013)

UK Oil and Gas PLC (AIM: UKOG) is a UK-based oil and gas exploration and production company. The company is listed on the London Stock Exchange in the Alternative Investment Market (UKOG.L).

Company history[]

2013 to present[]

The Company changed its name to UK Oil and Gas Investments plc on 4 December 2013^[1] the following day it changed its TIDM (ticker symbol) to UKOG.^[2]

In March 2016 UKOG made national news with the flow testing of the Horse Hill 1 well (HH-1), located 3 miles north of Gatwick Airport, achieving the highest flow rates of an onshore well in the UK. From 3 zones, a combined flow rate of 1,688 barrels per day was achieved.^[3]

In 2017, the Broadford Bridge well BB-1 was drilled and its associated sidetrack BB-1z. However this well was less successful with complications involving blocked fractures in the well bore occurring, which led to flow rates from this well considered sub-commercial to date.

UKOG is currently performing an at Horse Hill to identify whether the HH-1 well can be determined commercial both from the Portland sandstone and the Kimmeridge limestone. The Portland has now been declared a commercially viable proposition and planning has been given for 5 additional wells at the horse hill site. an aim of approx. 3200 barrels of oil per day making it the 2nd largest land based production site in the UK.

Operations in the United Kingdom[]

UKOG currently has interests in 7 oil and gas assets all based on-shore in the south of England a mixture of exploration license and a few aging production fields.

Weald Basin[]

The majority of UKOG's current development and appraisal program is occurring in the Weald Basin where flagship assets Horse Hill (License: 137/PEDL246) and Broadford Bridge (License: PEDL234) are located. UKOG also has a 40% interest in the Holmwood prospect, which is operated by Europa (oil company).

Other exploration interests include Arreton (Isle of Wight) (PEDL331), Markwells Wood (PEDL126).

UKOG has two field in production that are operated by IGas Energy, Horndean (10% interest) and Avington (5%).

References[]