Schlumberger has independently evaluated the unconventional oil potential of the Horse Hill-1 well in the Weald Basin neat to Gatwick Airport.
The company, working on behalf of UK Oil & Gas, has estimated a gross overall oil in place for the Jurassic section of the well to be approximately 2.731 million barrels of oil per square mile.
London-listed UK Oil & Gas Investments previously announce the findings of a report which estimated 158million barrels per square mile could lie below the site just north of Britain’s second-largest airport, much more than first thought.
Neil Ritson, Solo’s chairman – which owns a 10% stake in the field – said: “We are pleased to note that Schlumberger, using their own proprietary techniques, has confirmed the order of magnitude of the earlier work conducted by Nutech.
“Taken together these independent estimates continue to suggest a significant oil potential in the unconventional Jurassic sequence in the Horse Hill area and may have wider significance in the Weald Basin generally.”
The find is in Britain’s resource-rich southern Weald Basin, adjacent to an area where one of Europe’s largest onshore oil fields is located at Wytch Farm.
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