UK-focused onshore hydrocarbon operator Union Jack Oil (UJO) has announced upgraded Stock Tank Oil In Place (STOIP) volumetrics from the West Newton project.
The project is located within PEDL183 in the Kirkham Abbey reservoir.
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Re-evaluation of the volumetrics and core analysis, as well as geochemical and other technical studies, indicate a material upgrade in liquid hydrocarbons present in the reservoir.
According to the company, the base case estimates are liquids 146.4mmbbl and gas 211.5bcf while the upside case estimates are liquids 283mmbbl and gas 265.9bcf.
UJO noted that the West Newton discovery is now considered as one of the significant onshore conventional oil and gas discovery in the UK in the last 30 years.
Covering an area of 176,000 acres, PEDL183 is situated within the Southern Permian Basin in East Yorkshire.
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By GlobalDataUnion Jack executive chairman David Bramhill said: “The confirmation of a major oil discovery at the West Newton project is highly encouraging. We believe that West Newton will become a significant oil development project for Union Jack, our joint venture partners and for the onshore UK hydrocarbon industry.
“The results of the operator’s analysis confirm that the estimated in-place hydrocarbon volumes at West Newton comprise a significant proportion of liquids, which represent a material increase over and above those figures provided by the existing CPR.
“We are looking at an onshore project with potential offshore resources, and to date, West Newton is demonstrating the elements required to become a significant conventional hydrocarbon development project in the future.”
In September, a major oil discovery was announced by the company at West Newton appraisal well.
