Uk Oil & Gas Share Discussion Threads

[moneymunch] 10/5/2016 12:38

04/05/2016
Petrochemical giant Ineos has "fired the starting gun" on its fracking programme by pressing ahead with plans to lodge test drilling applications by the end of the year.

Gary Haywood, chief executive of Ineos Shale, said it is rolling out a major seismic survey this summer to pinpoint prime sites for fracking across swathes of northern England where it holds licences.

The firm said it is also looking to bolster its team by making six appointments - including a geophysicist, an operations geologist and a commercial director - as it takes steps to scale up the business.

It comes as Ineos Shale looks to set up meetings with parish and town councils in Cheshire, Yorkshire and the East Midlands in the coming weeks in a bid to tackle public concern in areas close to potential exploration sites.

Mr Haywood told the Press Association: "We are firing the starting gun on our programme.


"Up until now, the 3D seismic data that has been shot in England covers around 400-odd kilometres. Over the next 12 months we hope to top that by shooting more seismic data than has ever been shot in the UK.

"We are ramping up the level of activity quite significantly to see if the geology is suitable for the industry in the UK. The economic benefits will be substantial, if the rocks are suitable and it's successful."

Ineos Shale emerged as one of the biggest players in the UK's nascent fracking industry when it won 23 licences in the Government's 14th licencing round. It has vowed to invest £650 million to establish 30 wells.

He added: "We think the next one to two years will be very important for determining what the potential is for shale in the UK."


Mr Haywood said Ineos will carry out its seismic survey over the summer, before lodging planning applications for core drilling at the end of the year.

It expects to press ahead with core drilling - which establishes whether a site is viable for fracking - in 2017, before submitting a separate planning application to carry out test fracks at the beginning of 2018.

He said the firm was committed to meeting and addressing the concerns of local people and would hold public exhibitions where it would listen to concerns.

He added: "There is no question that there is some level of opposition and we are aware of that, and surveys have shown there is not much movement on that.


"We did events in Scotland when we talked to 5,000 people but found that they don't have the facts and read scare stories in the press.

"We are in this for business so people will be cautious about believing what we will tell them. We would say listen to the arguments and listen to the independent bodies like the Royal Society and the Royal Academy of Engineering."

Speaking about the opposition from the SNP, Mr Haywood said he was worried that fracking was becoming a "political football, which won't be good for the industry in Scotland".

Ineos Shale said it recruited three "pioneers" of the US fracking industry in 2014 as exclusive consultants to help drive through the plans.

[moneymunch] 10/5/2016 12:32

17th December 2015

The Oil & Gas Authority (OGA) – the UK’s oil and gas regulator – has today announced that 159 onshore blocks under the 14th Onshore Oil and Gas Licensing Round are being formally offered to successful applicants. These blocks will be incorporated into 93 onshore licences.

A Petroleum Exploration and Development Licence (PEDL) does not itself give any direct permission for operations to begin. A PEDL grants the licensee exclusivity over an area of land for onshore hydrocarbon exploration, appraisal and extraction. The exclusivity applies to both conventional and unconventional operations.

The UK has a long history of onshore gas exploration, and has developed a robust regulatory system to ensure that any such operations will be carried out to the highest standards of safety and environmental protection. Before a PEDL licensee can begin operations (such as drilling, hydraulic fracturing or production) they must be granted a number of further permissions and consents.

These include, for example, planning permission, environmental permits from the Environment Agency, scrutiny of well design by the Health and Safety Executive, and OGA consents under the terms of the PEDL.
Around 75% of the 159 blocks being offered today relate to unconventional shale oil or gas, and additional regulatory requirements apply to this kind of activity.

The offer of PEDLs today follows a detailed environmental assessment of the proposed blocks under the Conservation of Habitats and Species Regulations 2010, which was subject to public consultation. The OGA is today also publishing its updated Habitats assessment report, and its response to the consultation.

Following this assessment, and the conclusion of the consultation process, the OGA is satisfied that the approval of the 14th licensing round, and the offer and eventual award of the individual PEDLs, will not have an adverse effect on the integrity of any protected European site.

OGA Chief Executive Andy Samuel said:
“I am pleased that the 14th Onshore Round attracted strong interest and a high quality of proposed work programmes. This round enables a significant amount of the UK’s shale prospects to be taken forward to be explored and tested.

“Upon acceptance of these offers, applicants will be issued with licences and will be able to begin planning their future strategies for exploration activities. These will be subject to further local planning, safety, environmental and other authorisations.̶1;

Energy Minister Andrea Leadsom said:

“Last month we set out the vital role gas will play in the UK’s transition to a low-carbon future. The licences offered today move us a step closer - driving forwards this industry which will provide secure, home grown energy to hardworking families and businesses for decades to come.

“Alongside conventional drilling sites, we need to get shale gas moving. As the Task Force for Shale Gas report found earlier this week, with the right standards in place fracking can take place safely. Now is the time to press ahead and get exploration underway so that we can determine how much shale gas there is and how much we can use.”

[beebong1] 10/5/2016 12:30

He was right though. PEDL 331 has not made it to the DECC website or have any of the 14th round licences. As I said previously, "gov" is not doing it's job.

I wonder if those two trades just after 12 were the same person!

[moneymunch] 10/5/2016 12:15

I think you'll find there are two Ibugs, the one on Lse appeared with his negative slant at the same time the original one was posting positively here......just another lowlife scumbag cohort, no doubt. Gl :-)

[beebong1] 10/5/2016 11:54

I see ibug has changed his tune on lse

Today 11:28 Ibug RE: UKOG is not a one trick pony 1.95 No Opinion
A real bunch of amateurs on here IMO. Yesterday we had those who don't know the difference between a plc and ltd company. Today we get those discussing planning applications on licenses that have not been assigned by DECC. PEDL 331 was supposed to have been assigned in April but as yet none of the 14th round licenses have been. Bunch of ramping idiots IMO

[moneymunch] 10/5/2016 11:29

Lol, that's going to look good on my mantlepiece in celebration of the £1m and more I'm going to make by the time multi-pad horizontal well sites are pumping more than double than Wytch Farm's peak production of 110,000bopd Gl :-)

[atino] 10/5/2016 10:24

Morning beautiful people:-)

[Oh look...] a rememberable souvenir...for when your investment hits the fan! *__^ (...going for £410 at auction, if any 'horse hill lovers' are interested:-)



hxxp://www.ebay.co.uk/itm/-/391451098600

...it's better than a specimen...down at the 'bottle bank':-) ^__^ (LOL)

[moneymunch] 09/5/2016 13:55

Into the Blue in anticipation, this could re-rate suddenly and significantly in a blink. Gla holders :-)

[tmmalik] 09/5/2016 13:31

Rns logged,tomorrow morning at 7:00

[moneymunch] 09/5/2016 13:01

Selsey, with the IoW in hazy view, although I love it around Poole, especially the Isle of Purbeck, lots of camping weekends in the past at Tom's Field near Dancing Ledge and drinking lots of ale and cider in the Square and Compass. ;-)))

[funkmasterp12] 09/5/2016 12:40

Where on the South Coast? I grew up not far from Wytch Farm ;)

[moneymunch] 09/5/2016 12:33

Lol funky, it certainly is, and sun kissed from a boozy weekend down on the South Coast......the future here is very bright....blue skies coming. Gl ;-)

[funkmasterp12] 09/5/2016 12:24

Is it pretty in your world Moneymunch?

[moneymunch] 09/5/2016 12:13

Urban Myth.....Code 1....Rns coming????

Maybe one big Rns on its way.....placing at a premium to fund acquisition of 10% plus of Mpet and provide Ukog with a solid cash base for the foreseeable, a stellar reserves upgrade from Nutech and Xodus, and early approval for the 90 day production flowtest. A fully funded Ukog with so much upside potential will see the share price pushing up to new highs as new investors including the city institutions come flooding in...imho....gla holders.Exciting times ahead. :-)))

[moneymunch] 09/5/2016 06:34

7 May 2016 • 8:14pm

Fracking could take place in Britain this year for the first time since 2011, under plans that could get the green light from council officials this week.

Gas company Third Energy is seeking planning permission to frack a shale gas well it has drilled at Kirby Misperton in Ryedale, North Yorkshire.

If the company gets the go-ahead, gas from the site could be powering homes in Yorkshire before the end of this year, Rasik Valand, its chief executive, told the Telegraph.

[moneymunch] 06/5/2016 17:42

Plenty to look forward to, and plenty of positive newsflow and potential significant upside this coming year. The flowtest results from HH were outstanding and the free flow from the Kimmeridge limestones was beyond all expectations. We now look forward to the eagerly awaited reserves upgrade and estimation of recoverable volumes, and early UK Govt/Agency approval for the 90 day production flowtest expected this year and news from Mpet with further acquisitions more than likely. Gla longs.....full market appreciation will arrive sooner or later. imho. :-)


KIMMERIDGE LIMESTONE OIL PRODUCTION

Can be produced with low visual impact
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12-24 wells in 4-6 acre site
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Wells and pumps below ground level
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Control production to reduce initial road
tanker impact
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Can be located in brown field sites and
away from villages, houses, small roads

KIMMERIDGE LIMESTONE OIL PLAN TO 2018

The journey has just begun
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Consolidate and increase licences holding in Weald Basin ââ;‚¬â€œ control the Kimmeridge Oil play
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Bring Horse Hill/Gatwick Gusher to production
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3x 90 day production tests (2016)
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3D seismic (2017)
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Horizontal production wells (2017)
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Show HH-1 resources can be repeated to south and west in the Basin sweet-spots

Holmwood-1 well (2016/17

2 others identified wells (2017/18)

[beebong1] 06/5/2016 16:50

Unfortunately it is days like this that we have to look forward to on this bb for some time to come apart from the occasional bursts of hysteria.
I guess at some stage they will get the planning applications into the OGA but the "gov" do not look like they are playing ball with 14th round licences so chances of anything being "fast tracked" are slim IMO.
If the OGA take as long as they did with the original application we are in for a long haul.

[moneymunch] 06/5/2016 15:15

A blue sprint into close??? Gla, Good news coming. ;-)))

[datait] 06/5/2016 14:50

Fill your boots folks mm have been consolidating news expected next week. I will be very surprised if there is another week without news.

This will zip up very quickly.

[moneymunch] 06/5/2016 12:06

News from Nutech and Xodus anytime now with news on Mpet's 35% to follow along with UK Gov/agency approval update for the 90 day production flowtest, and so maybe full market appreciation for a Major International Oil discovery beckons. Gla holders ;-)

NUTECH-Identified Horse Hill-1 Oil Discovery Produces Significant Oil Flows to Surface

HOUSTON (April 7, 2016) – NUTECH, one of the world’s leading companies in reservoir characterization and intelligence, has announced that the third phase of the flow test for the major international oil discovery it identified in a report to UK Oil & Gas Investments PLC (UKOG), an independent exploration company, has been completed. Following the completion of the flow tests, the Upper and Lower Kimmeridge limestone intervals of the Horse Hill-1 well in the Weald Basin are producing at a combined average stable rate of more than 1,360 barrels of oil per day (bopd), and the HH-1 Portland test flowed at a stable dry oil rate of 323 bopd, bringing the final total aggregate stable dry oil flow rate from these intervals to stand at 1688 bopd—likely the highest aggregate stable dry-oil flow from any onshore UK new field wildcat discovery well.

Both the Upper and Lower Kimmeridge limestone intervals are producing light, 40-degree API, sweet oil flowing naturally to the surface, without pumping, at an average stabilized rate in excess of 900 barrels per day from an 88-foot aggregate perforated zone at a depth of approximately 840 meters below ground and in excess of 463 bopd from an 80-foot zone at a depth of approximately 900 meters below ground level, respectively. The final Portland test of 323 bopd, over an 8.5-hour period, was produced at maximum capacity and showed no clear indication of completion and has the potential to be further increased using a higher capacity downhole pump during the next planned test.

After being appointed independent assessor of the HH-1 well by UKOG in Jan. 2015, NUTECH used its proprietary NULOOK petrophysical analysis solution, a process which uses conventional open hole well logs to analyze the texture of the tested reservoir rock, to provide the Company with a report identifying the Horse Hill Upper Kimmeridge formation as holding approximately 72 percent of OIP. In June 2015, NUTECH’s preliminary assessment of the HH-1 well was confirmed in a report issued by Schlumberger estimating the overall oil in place (OIP) for the Jurassic section to be even more impressive than NUTECH’s early projections.

“Our extensive experience, paired with our proprietary petrophysical technologies, allowed us to confidently predict an accurate volume estimate for the Horse Hill-1 well from our initial assessment,” said Allen D. Howard, executive vice president and chief commercial officer, NUTECH. “The completed flow test has yielded extremely positive results allowing this well to have one of the highest performing wildcat test rates in the history of wells drilled onshore UK. We are pleased to have been a part of proving the exceptional significance of the HH-1 well for not only the Weald Basin, but for all of the UK, and look forward to continuing to work alongside the contracted alliances as long-term production tests are conducted.”

NUTECH has been commissioned to investigate a possible upgrade to the OIP calculated within all three test zones together with engineering studies to examine possible flow rates from a horizontal well.

Further analysis of data is ongoing and will be reported once available.

[moneymunch] 05/5/2016 15:53

Mega News, with any luck!!! gl ;-)

[hazelst] 05/5/2016 14:30

News soon?

[kmjs] 05/5/2016 12:20

We don't need to differ just read the SEC filing, but I'll leave it there.