Union Jack Oil plc has unveiled highly promising test results from its Moccasin 1-13 well in Oklahoma, revealing a strong initial flow rate. This success marks a significant milestone, affirming years of geological and geophysical research. With further zones set for evaluation and new prospects emerging, the company’s footprint in the US oil sector is expanding.
The Moccasin 1-13 well, drilled in January to a total depth of 5,690 feet, delivered an impressive open-hole average flow rate of 25.88 barrels per hour, translating to 621 barrels per day. This outcome underscores the well’s potential, with joint venture partner and operator Reach Oil & Gas Company Inc now moving towards permanent production and oil sales.
Union Jack Oil’s leadership is optimistic. Chairman Miles Newman highlighted the value of extensive geological work leading to this breakthrough, while executive chairman David Bramhill emphasised the well’s significance in unlocking further opportunities in Oklahoma. The partners are now set to test additional zones within the well, including the Red Fork and Bartlesville Sandstones. Encouragingly, another 3D seismic-supported structure, mirroring the characteristics of Moccasin, is also in line for exploration.
With the success of Moccasin paving the way for future developments, Union Jack Oil is poised to capitalise on fresh opportunities in the region, reinforcing its growth strategy and commitment to value creation.
Union Jack Oil plc (LON:UJO) is an oil and gas company with a focus on onshore production, development, exploration and investment opportunities within the United Kingdom and the United States of America hydrocarbon sector.
