PEDL 181 is located in the Humber Basin studies published by the British Geological society consider the area prospective for oil & gas.
Internationally, horizontal drilling and specialised completion technologies in tight formations have permitted extensive unconventional developments in both oil & gas, most notably in the United States. Potential in-place volumes on the licence could represent significant economic value, even if only recovery factors at the low end of those achieved in the US can be replicated in the UK onshore.
Phase 1 work obligations were fulfilled by Europa Oil and Gas with the drilling of the Kiln Lane well in 2015. This well was a dry hole and was plugged and abandoned, the site was restored for agricultural use.
|Type of Resource||Unconventional|
|Licence Area||39,314 Acres|
|Licence Holder||% Interest|
|Europa Oil & Gas||50.00%|
|Union Jack Oil||12.50%|
|Humber Oil & Gas||12.50%|