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Alba’s Horse Hill stablemate UKOG highlights ‘Sim-Ops’ success as drilling and oil production continues

Safe and innovative 'sim-ops' at Horse Hill marks another significant operational milestone, says UKOG.

Alba Mineral Resources plc - Alba’s Horse Hill stablemate UKOG highlights ‘Sim-Ops’ success as drilling and oil production continues
So far some 71,368 barrels of crude have been produced via testing at Horse Hill

Alba Mineral Resources plc’s (LON:ALBA) Horse Hill stablemate UK Oil & Gas PLC (LON:UKOG) has this morning reported that “simultaneous drilling and test production operations” (or ‘Sim-Ops’) have been successfully implemented at the English oil project.

Put simply, UKOG explained that since 29 September there has been production testing in the HH-1 well’s Kimmeridge zone at the same time as drilling is underway for the new HH-2/2z well.

In a statement, UKOG highlighted that test production from the Kimmeridge now stands at over 41,800 barrels – with the zone yielding light, sweet 40° API crude – and that the overall extended production has unearthed a total of 71,368 barrels (with the balance coming from the shallower, conventional Portland reservoir).

"It is pleasing to see HH-1 test production being successfully maintained at the same time as drilling operations are ongoing for HH-2,” said George Frangeskides, Alba executive chairman.

“This bodes well for the future of the Horse Hill oil field as a long-term producer from multiple wells."

READ: Alba looks forward to horizontal drilling as HH-2/2z advances

HH-2/2z, being drilled presently, is targeting only the Portland. It will comprise a vertical pilot hole, which according to an update this Monday is nearly complete, and, a horizontal well which will stretch some 1,000 metres into the ‘most productive’ part of the reservoir.

UKOG today highlighted that the ‘Sim-Ops’ have allowed the continued collection of important production data whilst allowing revenue generation to continue, to offset drilling costs.

"The establishment of safe and innovative sim-ops at Horse Hill marks another significant operational milestone for the company in 2019, " said UKOG chief executive Stephen Sanderson.

The HH-2/2z well is expected to join HH-1 in production testing until the Horse Hill field transitions into ‘long term production’, slated for late 2019.

Alba owns an 11.765% interest in Horse Hill Developments Limited (HHDL), the project operator, with 65% of the underlying project.

UKOG, meanwhile, has a total stake of 85.635% in the Horse Hill project via interests in both indirectly through holdings in HHDL and direct interest at project level.

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Price: 0.1025 GBX

Market: AIM
Market Cap: £3.84 m


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