Company that drilled Horse Hill site looking to expand in region…
Fracking company UK Oil and Gas Investments (UKOG) announced a few days ago that it had just done a deal with Celtique Energie and Magellan to acquire 100% of PEDL234. This gives it control of a site with planning permission and permits at Broadford Bridge. UKOG have a large stake in the Horse Hill well and also have a stake in the nearby planned Holmwood-1 well at the site which also intends to explore the Kimmeridge Clay for shale oil. UKOG now have control of at least three sites and are threatening to drill thousands of wells across the Weald.
UKOG have said that the agreement is conditional on the Secretary of State for Energy and Climate Change extending the licence for at least one year. If the deal is confirmed UKOG will double its licence area in what it describes as “prime Kimmeridge Limestone Oil province”. PEDL234 covers 300sq km or 116 sq miles.
Media: https://drillordrop.com/2016/06/13/ukog-pays-3-5m-for-celtique-energie-sussex-drilling-licence/
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