UK Oil & Gas PLC reported significant gas reserves at Loxley Portland gas discovery within its operated PEDL234 license onshore UK. The 48 sq km Loxley geological structure could produce about 4-5 bcf/year on an energy equivalent basis, the company said.
If planning consent for the company's appraisal and long-term testing program is granted, Loxley-1 will be drilled in second-half 2021, COVID-19 permitting.
A report from Xodus Group estimates that the area of the Loxley Portland gas discovery lying within PEDL234 contains 49 bcf mean case gross gas initially in place (GIIP). Mean gross recoverable resource, the portion of GIIP estimated to be recoverable to surface via future production, is 34 bcf. Estimated recovery factor is about 70%. Reported high case net GIIP for PEDL234 overall is 76 bcf and recoverable is 54 bcf.
In terms of recoverable gas resources, calculated figures place Loxley as one of the largest gas accumulations discovered and flow tested onshore UK. If proven by future production, calculated gross mean recoverable resources would place Loxley second after Saltfleetby gas field, the largest UK onshore gas field to date, which produced about 73 bcf.
UK Oil & Gas Plc. is operator in PEDL234 with 100% ownership.
