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UKOG completes Weald Basin PEDL126 acquisition from Magellan

UK Oil and Gas now holds 100% interest in the Weald Basin onshore license PEDL126 after acquiring Magellan Petroleum’s 40% interest. The license contains the Markwells Wood-1 Great Oolite oil discovery. UKOG has now acquired interests in four UK onshore producing fields – Horndean (10%), Avington (5%), Lidsey (4.2%) and Brockham (3.6%) – as well as interests in three oil discoveries at Markwells Wood-1 (100%), Horse Hill-1 (20.358%) and Baxters Copse-1 (50%). UKOG is also the operator of the offshore Isle of Wight exploration license, P1916 (77.5%), and has applied for the contiguous onshore Isle of Wight acreage in the UK’s 14th Landward License Round. PEDL126 has an area of 11.2 sq km, comprising blocks SU/71a and SU/81a, and is ...

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Noble Energy to drill Humpback, Rhea offshore Falkland Islands this year

Noble Energy has acquired a 75% interest and operatorship of the PL001 license in the North Falkland Basin from Argos Resources. Noble has identified the Rhea prospect as its initial target on PL001. Water depth at the anticipated drilling location is approximately 1,550 ft, and the target total well depth is 8,760 ft. The PL001 license covers an area of nearly 285,000 gross acres and is located northwest of the PL032 license, which includes the Sea Lion oil discovery. Rhea is a Cretaceous-aged stratigraphic trap prospect with multiple reservoir targets and total estimated gross mean unrisked resources in excess of 250 million bbl of oil. Rhea is anticipated to commence drilling in Q3 2015 with Noble Energy’s second slot on the ...

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