UOG to participate in jackup-drilled well offshore southern England
United Oil & Gas has agreed to farm in to Corallian Energy’s interests offshore and onshore the southern English coast.
DUBLIN, Ireland – United Oil & Gas (UOG) has agreed to farm in to Corallian Energy’s interests offshore and onshore the southern English coast.
The company will assume an initial 10% of three licenses held by a joint venture between Corallian as operator and partner Corfe through paying 13.33% of costs associated with the Colter appraisal well, planned for 2Q.
UOG has a further option to acquire an additional 10% share of the licenses.
P1918, containing Colter, is an offshore concession adjacent toWytch Farm, Europe’s largest onshore oil field, which produces from onshore wells and extended-reach wells drilled offshore into the English Channel.
The Colter well, likely to cost £7 million ($9.68 million), will be drilled by an offshore jackup, but any commercial hydrocarbons discovered could be developed through the Wytch Farm facilities via extended-reach drilling.
Additionally, United and Corallian have established an area of interest under which they will identify and target further opportunities within the same play.