UKOG cleared to push on with Loxley appraisal plan
London-listed UKOG announced on February 1 that its revised work programme at the onshore Loxley gas discovery in south England had been approved by the North Sea Transition Authority (NSTA), enabling it to accelerate its appraisal campaign.
The company has committed to drill the Loxley-1 appraisal well by June 30, 2024, aimed at assessing the discovery's commercial viability, it said. It is set to be completed as a future production well – one of two that UKOG plans for developing the find. The second is due to be drilled by the summer of 2029, in order to maintain the planned plateau production rate.
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If Loxley-1 confirms commercial viability, UKOG has also agreed to collect 10 km2 of 3D seismic data at the field by June 30, 2025, and file a field development plan by the end of that year.
A 2020 report by Xodus Group estimated that 34bn ft3 of gas could be recovered from Loxley. The production rate is envisaged at 4-5bn ft3/year.
UKOG is the 100% owner of the Loxley licence.