RE: HH12 Feb 2024 15:35
Penguins
End of 2020/beginning of 2021 was particularly ague as that was when they were supposed to to produce from the Portland and Kimmeridge.
This was from the Annual.
"Horse Hill Oil Field, PEDL137 and PEDL246 (UKOG 85.635%)
The field and surrounding licence is operated by UKOG's subsidiary company Horse Hill Developments Ltd
(“HHDL”) in which UKOG has 77.9% ownership. The Licensees are HHDL (65% interest) and UKOG (137/246) Ltd
(35% interest).
At the beginning of the reporting period, further well intervention operations on Horse Hill-1 (“HH-1”) were safely
completed, optimising oil flow by isolating the Kimmeridge perforations, by reperforating the full Portland oil
producing section, by insertion of a new simplified production tubing string and by setting the downhole pump
at a deeper level than the existing perforations to increase pumping efficiency.
The intervention was immediately followed by an ongoing series of multi-week production optimisation trials to
achieve an optimum balance between oil revenues and water handling and other operational costs. Trials include
well-cycling (i.e., shutting in the well for a set period each day to reduce water inflow) and pump optimisations.
The trials continued for several months.
These improvements set HH-1 up for long term continuous and optimised oil production from the Portland.
Conversion of the HH-2z well to water injection, subject to regulatory approval, plus further infill development
of both Portland (HH-3 well) and Kimmeridge (HH-4 well) offer significant upside for the Horse Hill field.
Pressure build-up data was also carried out confirming the HH-1 connected oil in place volumes of 7-11 mmbbl."
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