Union Jack Oil plc’s joint venture has had its first setback from a poor show in its fifth drilled well, Sark, in central Oklahoma, USA.
PROGRAMME
Operator and partner Reach Oil and Gas company plc drilled the well to a total depth of 5,391 feet, targeting an estimated 1,440,000 barrels of oil gross and a further potential 1.5 million barrels.
Union Jack today said that, following evaluation, the Prue interval was highlighted on electric logs as hydrocarbon bearing.
“Temporary production facilities were installed and a 30-day test programme was undertaken,” added the company.
“The production test of the Prue Sandstone failed to produce commercial hydrocarbons.
“Post well analysis indicates the Sark well encountered a valid structural closure, however, the trap was subsequently breached.”
Union Jack executive chairman David Bramhill described the result as “unexpected and disappointing”.
“Our US interests, with income from Moccasin, the Andrews field and mineral royalties, continue to be profitable and we look forward to continuing our Oklahoma drilling programme.”
The JV comprises Union Jack, which holds a 53% interest in Sark, and operator Reach Oil and Gas Company Inc.