Rathlin To Drill UK Onshore Gas Well in 1Q
Tiny UK explorer, Union Jack Oil, said December 3 that its farm-in to Rathlin Energy's onshore gas block PEDL183 has been completed, following approval by the UK upstream regulator, and that an appraisal well is planned for early next year.
Union Jack now has a 16.665% licence interest in PEDL183, which contains the West Newton A-1 UK onshore gas discovery, a best resource estimate for which is 189bn ft3 (gross). It says the West Newton A-1 gas find is on trend with the nearby Hewett offshore gasfield, which originally had gas in place of 419bn ft3 and produced for many years.
The West Newton conventional appraisal well is planned to be drilled in 1Q 2019, said Union Jack, and will follow the planned start of the conventional Biscathorpe-2 appraisal well on PEDL253 by end-2018, in which the company has a 22% licence interest.
PEDL183 interests are now Rathlin as operator 66.67%, with Union Jack Oil and Humber Oil & Gas holding 16.665% each.
Union Jack paid for the PEDL183 interest by funding 25% of the £4.6mn ($5.9mn) cost for the West Newton appraisal well. Humber Oil & Gas farmed in on the same terms
Credit: Union Jack