Union Jack Oil announces upgraded STOIP volumetrics from West Newton

Re-evaluation of data and core analysis indicates a material upgrade in liquid hydrocarbons contained in the Kirkham Abbey reservoir in the West Newton project area. The Upside Case estimates are Liquids 283 million bbl and Gas 265.9 billion ft³.

The West Newton discovery is now the most significant onshore conventional oil and gas find in the UK for 30 years, holding possibly the largest gas field in the British Isles. The results of West Newton are considered transformational for UJO and their partners.

The West Newton upgraded numbers coincidentally arrived following the conclusion of the Wressle Public inquiry last week, which is expected to give the 'green light' to the operator, Egdon Resources (EDR) to start production from the Wressle discovery. UJO hold 27.5% of the discovery.

David Bramhill, Executive Chairman of Union Jack, commented: “The confirmation of a major oil discovery at the West Newton project is highly encouraging. We believe that West Newton will become a significant oil development project for Union Jack, our joint venture partners and for the onshore UK hydrocarbon industry. The results of the Operator’s analysis confirm that the estimated in-place hydrocarbon volumes at West Newton comprise a significant proportion of liquids, which represents a material increase over and above those figures provided by the existing CPR. We are looking at an onshore project with potential offshore resources, and to date, West Newton is demonstrating the elements required to become a significant conventional hydrocarbon development project.”

Read the article online at: https://www.oilfieldtechnology.com/exploration/11112019/union-jack-oil-announces-upgraded-stoip-volumetrics-from-west-newton/