Union Jack Oil plc reported a non-commercial outcome at its joint venture Crossroads well in Garvin County, Oklahoma, USA.
MEETING
Operator and partner Reach Oil and Gas Company Inc encountered “good hydrocarbon shows at several levels from the Hoxbar down to the Basal McLish intervals”.
The partners had also perforated and tested four intervals with “production potential”.
“Following testing the well has been deemed non-commercial and will be plugged and abandoned in due course,” said Union Jack.
The company, which has a 43% stake in the well, previously stated it was fully funded for drilling costs from its existing cash resources.
Union Jack, with onshore oil and gas interests in England and Oklahoma, faces a possible overhaul of its leadership when shareholders vote at a general meeting on 26 June 2026.
The board currently comprises executive chairman David Bramhill, executive director Joseph O’Farrell, independent NED Dr Zac Phillips and NED John Americanos.