UK Oil & Gas confirmed the operations on Horse Hill-1 are now drilling at a rate of 30ft per hour.
The Marriott 50 rig has reached a depth of 116ft today.
The well is located on the northern side of the UK Weald Basin near Gatwick Airport. The well is due to drilled to a total depth of 8,680ft. The primary oil reserves are thought to be held in the Jurassic Portland Sandstone and the Corallian Sandstone.
UK Oil & Gas chairman David Lenigas said: “Horse Hill Developments Limited has successfully installed the heavy drilling rig and the well is proceeding towards the first conventional oil objectives in the Jurassic. We look forward to updating the market with any significant news as the well progresses.”
The explorer owns a 20% interest in the venture.
The first surface casings on site have been cemented in at a depth of 84ft. The next casing point is expected at about 1,865 feet where a 13 3/8-inch casing will be installed and cemented before drilling resumes.
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