Massive gas discovery in East Yorkshire to boost UK’s energy sector
Union Jack Oil, an on-shore oil and gas exploration and production company, just announced a massive gas discovery in a hydrocarbon well operated by Rathlin Energy in West Newton, East Yorkshire.
There has been found substantial hydrocarbon accumulation within a net 65-metre interval encountered in the primary target. Prior to the drilling of the West Newton A-2 well, a Competent Person`s Report compiled by Deloitte, had a Best Estimate Contingent Resource of 189 Bcf of gas equivalent. Volume expectations will initially be updated following further core and log analysis, then again following the extended well test.
Gas has become an increasingly important source of fuel for the UK in the last three decades, and it plays a key role in meeting the energy needs of the country. This discovery has the potential to significantly boost the sector, providing more sources of energy and contributing to the economy and creation of jobs.
David Bramhill, Executive Chairman of Union Jack, commented: “The initial results of the West Newton A-2 appraisal well exceed our expectations. The most important aspect of this drilling exercise is that the operation was undertaken in a safe and competent manner by the operator. We rank the West Newton project very highly and look forward to the results of testing during Q3 2019”
“These encouraging results suggest to us that the West Newton project has the potential to achieve our goal of transforming Union Jack from a junior exploration and production company into a self-sustaining mid-tier hydrocarbon producer”.