Rathlin Energy (UK) Ltd has been granted permission for drilling, production and more time for further exploratory drilling at its West Newton oil and gas joint venture in East Yorkshire.
APPLICATIONS
The operator can conduct drilling and production at the West Newton A site for 20 and have a further three years for further exploratory drilling at the West Newton B site.
Investor in the JV Reabold Resources plc today said that East Riding of Yorkshire Council had approved both applications.
“These approvals pave the way for the next phase of activity at West Newton as the partnership continues to move the project forward towards development,” said Reabold in a statement.
JOINT VENTURE
Reabold holds a circa 56% economic interest in West Newton via its 59% shareholding in Rathlin, which, in turn, has a 66.67% interest in PEDL183.
In addition, Reabold has a 16.665% direct licence interest in PEDL 183 and Union Jack Oil plc owns a 16.665% economic interest.
The licence contains the WNA-1, WNA-2 and WNB-1Z hydrocarbon discoveries.