Proactive Oil & Gas weekly highlights: United Oil & Gas, Harbour Energy, Union Jack, Mosman, Provide

United Oil & Gas PLC (AIM:UOG, FRA:1UO) announced the success of its latest development well, Al Jahraa-8 (AJ-8), at the Abu Sennan concession in Egypt.


The well encountered more than 40 metres of net oil pay across three reservoir units, of which around 30 metres were seen together for the Upper and Lower Bahariya reservoirs – this measure is significantly above the pre-drill expectations for the well. AJ-8 is now being prepared for the testing, with each of the three units set to be assessed.


Harbour Energy (LSE:HBR) Plc has delayed ‘first gas’ production from the Tolmount field as an electrical problem was identified in the final commissioning and testing of the platform. The electrical issue is now being investigated, the company said, and rectification plans are being developed. First gas is now anticipated by around year-end, it added.


Tolmount is forecast to produce 20,000 to 25,000 barrels oil equivalent per day, net to Harbour, and was expected to contribute around 10,000 boepd to Harbour’s output in 2021.


As a result, the company now cuts production guidance to 185,000 to 195,000 boepd. Harbour said that its new guidance also includes revisions related to the delayed restart of Elgin Franklin field following summer maintenance.


Union Jack Oil PLC (AIM:UJO) said initial results from ongoing well testing on the West Newton B-1Z well in Yorkshire are encouraging. An initial 25 metre interval – of a hydrocarbon column in the Kirkham Abbey formation measuring 62 metres – was perforated in the well and operations have been underway since June 7. Gas and liquids are being recovered to surface and are being analysed.


Earlier in the week, Union Jack has received a carbon intensity study on the Biscathorpe hydrocarbon project, and highlighted that the study reached positive conclusions.


The 45%-owned onshore UK project was graded by consultant GaffneyCline at AA for carbon intensity as a potential long-term oil producing operation. Moreover, GaffneyCline estimated that Biscathorpe is significantly less intense than the average project in the UK (based on other onshore analogues).


According to the consultant, Biscathorpe project will have a carbon intensity of just 3.06 grams carbon dioxide per megajoule of energy it produces, and, with the addition of certain gas-to-grid technologies to the project GaffneyCline believes the metric could drop to 1.49.


Mosman Oil and Gas Ltd (AIM:MSMN) completed an airborne survey to capture gravity and gradiometry data over the EP-145 permit in the Amadeus basin, in Australia. The company said it is a significant step in the exploration of EP-145, as it’s the first time that data will be acquired for the whole permit.


Findings from the survey inform a regional basin model which will be produced by consultant Geognostics Australia and is expected to be available in eight weeks.


Providence Resources PLC (AIM:PVR, FRA:PZQA) said new boardroom appointments significantly strengthen its team as it moves forward with the Barryroe programme.


The Irish oil field developer brought in energy sector finance strategist Peter Newman as senior independent non-executive director. It also recruited Ann Marie O’Sullivan, who is described as a highly regarded Irish communications specialist with close ties to Cork, the nearest city to Barryroe.


“Providence Resources is now moving forward with the development of the Barryroe oil and gas field,” said chairman James Menton. “This will not only be transformational for Providence, it will also provide major benefits to Ireland and to the Cork region, as the country transitions to a low carbon economy.


“These new appointments significantly strengthen our team.”

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