UK-focused onshore hydrocarbon production, development and exploration company Union Jack Oil (UJO) has announced that a drilling rig has been mobilised on site at the West Newton B-1 gas discovery.
West Newton site is located in PEDL 183 in the Kirkham Abbey reservoir in the UK. The licence also features the West Newton A-1 discovery well and the West Newton A-2 conventional appraisal well.
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Covering an area of 176,000 acres, PEDL183 is situated within the Southern Permian Basin in East Yorkshire.
Union Jack Oil holds a 16.665% interest in the licence, which is operated by Rathlin Energy UK.
Reabold Resources has a 59% interest in Rathlin, which holds a 67% stake in the project.
Reabold Resources is an investment firm operating in the exploration and production sector.
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By GlobalDataReabold Resources Co-CEO Sachin Oza said: “We are delighted to see Rathlin progress activity at West Newton to the point of drilling this exciting and highly prospective well in spite of the inevitable challenges caused to operations by Covid-19.
“During this period, we have increased our exposure to West Newton to approximately 56%, meaning we have a considerable interest in potentially one of the largest oil and gas fields onshore UK. We look forward to updating investors on the result of the well once drilling has been completed.”
In a press statement, Rathlin noted that all operations at the site are being conducted in accordance with coronavirus-related measures.
In April, Reabold undertook preparatory work at the West Newton B site.
In November last year, UJO announced upgraded Stock Tank Oil In Place (STOIP) volumetrics from the West Newton project.
