Project Profile
Location: onshore Weald Basin, United Kingdom (UK)
Reserves: Mean prospective recoverable resources 87 mmbbls (additional mean 164 billion cubic feet (bcf) of recoverable prospective resources within the deeper Triassic gas play)
Area: 55 sq miles north of Gatwick Airport
Production: 1,500 bpd
The Licences cover an area of 55 square miles and contain the new Horse Hill-1 ('HH-1') Portland sandstone and Kimmeridge Limestone oil discoveries north of Gatwick Airport and which flow tested at a significant 'North Sea-like' commercial aggregate stable dry oil rate of 1688 barrels of oil per day in March 2016. The Horse Hill-1 well is located within onshore exploration License PEDL137, on the northern side of the Weald Basin near Gatwick Airport. HHDL is a special purpose company that owns 65% participating interests and is the operator of licence PEDL137 and the adjacent licence PEDL246 in the UK Weald Basin. The remaining 35% participating interests in the PEDL137 and PEDL246 licenses are held by Magellan Petroleum Corporation.
The Horse Hill-1 well was planned to test a number of conventional stacked oil targets at the proven productive Portland sandstone, Corallian sandstone and Great Oolite limestone levels. Prospective recoverable resources totalling a mean 87 million barrels (mmbbls) have been estimated; with an additional mean 164 billion cubic feet (bcf) of recoverable prospective resources proposed within the deeper Triassic gas play. The Oil & Gas Authority ("OGA", formerly the Department of Energy and Climate Change) extended the exploration stage of Horse Hill for a further year in May 2015. The exploration stage of the PEDL137 licence was extended to 30 September 2016; exploration at the PEDL246 licence expires in June 2019.
There has been strong progress at Horse Hill with game-changing commercially viable initial oil flow rates from 3 horizons.
- Proof of concept and first commercially viable initial flow rates from the Kimmeridge Limestones at Horse Hill.
- 1,365 bopd aggregate stable dry oil flow rate from two naturally fractured Kimmeridge Limestones. (June, 2016)
Operator:
Horse Hill Development Ltd (HHDL): Operator with 60% interest
Angus: 18% stake in HHDL
UKOG: 31.2% stake in HHDL
Alba Minerals: 10% stake in HHDL
Solo Oil: 15% stake in HHDL
Doriemus: 10% stake in HHDL
Stellar Resources: 10% stake in HHDL
Magellan Petroleum (UK) Limited: 35% interest
Contractors:
Nutech Ltd (Nutech): Petrophysical analysis and reservoir intelligence for Horse Hill-1 ("HH-1") well
Schumberger: Independently assessed the petrophysics of Horse Hill-1 well