UK Oil & Gas PLC (UKOG) will further explore the Loxley discovery onshore UK after receiving a 1-year extension by the North Sea Transition Authority.
The Loxley gas discovery lies in the 300-sq km in PEDL234 license area (OGJ Online, Sept. 22, 2020). The field lies just north of the South Downs, west northwest of Horsham in Surrey. It comprises a west-east elongate anticlinal structure which is mapped as a 4-way dip closure.
To retain the license without future partial relinquishment, UKOG must begin drilling the Loxley-1 appraisal borehole as part of a retention area work program no later than June 30, 2025. Loxley-1 is designed to confirm the commercial viability of the discovery and its related hydrogen feedstock project.
A current competent persons report assessed Loxley as containing a mid-case 2C contingent resources recoverable volume of 31 bcf net to UKOG.
UKOG is 100% owner and operator of the Loxley discovery.