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UKOG granted one year extension for Loxley

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UK Oil & Gas plc has been granted a one-year extension to its Loxley gas licence by the North Sea Transition Authority.

The company must begin drilling the Loxley-1 appraisal well on PEDL234 retention area work programme no later than 30 June 2025.

The deadline allows the company to retain the full 300 km² licence without any future partial relinquishment.

A 2023 competent persons report stated that the project contained a mid-case 2C contingent resources recoverable volume of 31.0 billion cubic feet net to UKOG.

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2 Replies to “UKOG granted one year extension for Loxley”

  1. Pingback: UKOG appoints adviser for Loxley farm-out - Extractive Industries
  2. Pingback: UKOG writes off £400,000 at Turkey as cash held falls - Extractive Industries

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