Energy News Today

UK Oil & Gas PLC, Angus Energy PLC and Egdon Resources LTD walk away from Surrey Hills project

Well sites outside the Surrey Hills Area of Outstanding Natural Beauty were 5 kilometres away from the exploration target and were deemed non-viable.

A cohort of UK onshore oil firms have walked away from the proposed A24 (formerly ‘Holmwood’) exploration well project in Surrey’s stockbroker belt.

(), (), and Egdon Resources LTD () have decided to exit after project plans failed.

They had been considering a plan to drill the exploration prospects centre from sites located outside the Surrey Hills Area of Outstanding Natural Beauty.

Each site was around 3 kilometres away from the prospect’s centre and the evaluated options were deemed to be neither technically viable nor economically feasible.

UKOG, in a statement, said it remained a great disappointment that Europa Oil & Gas – the project’s former operator – did not drill a well at the Holmwood site, 1 kilometre from the prospect’s centre, when it had the planning permission to do so.

Mark Abbott, Egdon managing director, meanwhile, added: “The relinquishment is supported by Egdon, as a technically and commercially viable site to drill the A24 Prospect (formerly Holmwood) couldn’t be identified. 

“It enables Egdon to focus its resources on the core near-term priorities; namely, moving to production at Wressle during this quarter, progressing drilling options at Biscathorpe and North Kelsey, and acquiring a marine 3D seismic survey over the Resolution and Endeavour gas discoveries during the coming period.”

Read More: UK Oil & Gas PLC, Angus Energy PLC and Egdon Resources LTD walk away from Surrey Hills project

2020-10-16 02:56:00

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
%d bloggers like this: