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UK Oil & Gas says KL3 zone likely not economically viable

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Staff Writer | December 27, 2017
UK Oil & Gas Investments said low reservoir productivity at the Basal KL3 zone at its Weald Basin operations indicates the zone is "likely not economically viable."
UK Oil & Gas
Energy   Several mechanical and test completion problems
The company completed test 4 over the basal 50 foot section of KL3 at its 100%-owned Broadford Bridge exploration discovery after "several mechanical and test completion problems".

After an instantaneous rate of around 300 barrels flow per day, this declined to a steady inflow of between 30 to 50 bfpd over several days.

"In the company's view this horizon, whilst containing moveable hydrocarbons, appears to be unproductive due to low reservoir permeability," UK Oil & Gas said.

The explorer will move forward with a fifth test within the upper 100 feet of KL3 in the new year, and depending on remaining results for this area and KL5, a further naturally fractured 40 feet of limestone within the deeper KL-1 may be perforated and flow tested, it said.

Testing of the key targets will resume after its scheduled Christmas and New Year period shutdown.

UK Oil & Gas said that given the "significant insights" gained from Broadford Bridge, it has accelerated its plans for further drilling in the central and northern prime sector of the PEDL234 area.

It said planning consultants are "actively pursuing" the acquisition of two further drilling sites in the central sector of the licence.

The company has begun the application for planning consent on the first of these planned locations, and expects this to be submitted to the local council in mid-spring 2018, with drilling planned for spring 2019.