Horse Hill Developments Ltd., a London joint venture, spudded the Horse Hill-1 oil well after a series of weather delays for Surrey field, which is part of petroleum exploration and development license 137. Several consortium partners confirmed drilling has started.
Drillers plan to reach 8,680 ft vertical depth to test conventional stacked oil targets in the Jurassic layer and a conventional gas target in the Triassic layer. UK regulators approved drilling plans last month (OGJ Online, Aug. 6, 2014).
Horse Hill Developments holds 65% interest in the project. Stakes in Horse Hill Development are owned by Alba Mineral Resources PLC, Regency Mines PLC, Solo Oil PLC, Stellar Resources PLC, Doriemus PLC, Angus Energy Ltd., and UK Oil & Gas Investments PLC.
Magellan Petroleum Corp. of Denver owns the other 35% interest.