UK Oil & Gas plc said that last quarter’s workover programme resulting in a “deeper seating” of a downhole pump had increased production at the Horndean field, 10 miles north of Portsmouth in Hampshire.
REVENUES
Field operator Star Energy Group achieved an average of 200 barrels of oil per day last month compared with 125 bopd in January 2024.
UKOG added that Star forecast 2025 annual field production of 61,195 barrels compared with 49,402 bbl in 2024, with an average daily rate of 168 bopd and potential for further increases.
The workovers, combined with the new electric pumps installed in 2023, have also increased “the trend of improved field performance and low decline” seen in 2023.
Daily production rose by 22% from figures published in 2022.
Chief executive Stephen Sanderson added: “We are delighted with the clear success of the workover programme and the materially increased production rates obtained.
“Horndean’s production rate, decline and revenues continue to exceed expectations, further underscoring its value to our portfolio.”
UKOG holds a 10% interest in the field.