UKOG - Assets27 Jul 2024 15:37
Loxley: UKOG interest: 100%
Licence's Retention Area programme must now commence before 30th June 2024.
Horse Hill: UKOG interest: 85.635%
The GeoHub, currently at a conceptual stage, is targeted to generate and supply more than 200,000 MWh per year of continuous baseload, primarily as heat energy.
Horndean: UKOG interest: 10%
The Horndean oil field in Hampshire continues in stable production, averaging around 101 bopd gross with low water cut in 2022. Average production is forecast to increase in 2023 with improved well uptime from 2022.
Avington: UKOG interest: 5%
With strong commodity prices the Avington oil field is now scheduled to re-commence production, possibly during Q1 2023. The required well workover and production reinstatement is being progressed by the operator, IGas Energy.
Broadford Bridge: UKOG interest: 100%
UKOG, as disclosed within the analysis in section 10.2.2 of the CPR, has previously conducted analysis of PEDL234 and suggests that KL oil potential is also prevalent in a similar way to that at Horse Hill.
Portland Gas Storage: UKOG interest: 100%
UKEn’s development, while still designed for 1 billion cubic metres of salt cavern methane storage, will be hydrogen ready from inception and proposes to incorporate green hydrogen production via electrolysis using offshore wind power.
Resan Licence: UKOG interest: 50%
UKOG has executed a binding Heads of Agreement with Aladdin Middle East Ltd. (AME) to acquire a 50% interest in the 305 km² Resan Licence. AME will remain the operator of the 5 well commitment drilling programme, expected to start this year.