Union Jack Oil plc has commenced drilling its second joint venture well on the West Bowlegs prospect in Seminole County, Oklahoma. The operator, Reach Oil & Gas Company Inc, anticipates that the drilling of Andrews 2-17 will take approximately eight days to reach a depth of around 4,700 feet, including perforation and flow-back if the well proves successful. Union Jack has stated that its partner estimates an 80% geological chance of success for this venture.
Andrews 2-17 is positioned as an up-dip offset well to Andrews 1-17, targeting the Hunton Limestone, which is unconformably overlain by the oil-rich Woodford Shale. Union Jack expects that 2-17 will encounter a reservoir similar to the one found in the first well, located above the oil/water contact. If successful, 2-17 will share production facilities with 1-17, which will help reduce costs. The primary oil recovery method is anticipated to be solution gas drive, with any recovered gas being sold into the local network.
Union Jack holds a 45% working interest in the project and has invested US$340,000 in drilling and completion costs. Chief executive David Bramhill mentioned that production from 2-17 could begin within weeks of spudding. He noted that similar low-cost development wells in the area have achieved rapid pay-back within six months. He also highlighted the impressive speed at which drilling projects in Oklahoma move from conception to spudding.
At the Andrews 1-17 wellsite, work continues with the installation of gas export facilities and further upgrades expected to be completed by late July or early August 2024. This will be followed by the announcement of flow rates and other related information. The partners aim to expand their portfolio, establishing a notable inventory of wells to be drilled in the future.
Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.
