The Taylor 1-16 well was drilled to a total depth of 4,577ft. Credit: Pattadon Ajarasingh/Shutterstock.

Union Jack Oil, an onshore hydrocarbon production and exploration company, has announced a positive drilling update for the Taylor 1-16 well in Seminole County, Oklahoma, where it holds a 45% working interest.

The well was drilled to a total depth of 4,577ft, and electric logs indicate that the primary target, the Hunton Limestone interval, was encountered at 4,168ft, and is found to be hydrocarbon-bearing with high porosity and permeability.

Following the successful drilling, production casing has been run and cemented, and the drilling rig has been released.

The technical team at Reach Oil and Gas Company, the operator, is now planning the completion programme, which is due to begin in early December 2024.

In addition to the Hunton Limestone, two secondary intervals, the Cromwell Sand and Misener Sand, have been observed and show potential. These intervals will be evaluated at a later date to determine their potential for hydrocarbon production.

Union Jack executive chairman David Bramhill said: “Following the drilling of Taylor we are very encouraged by both the reservoir quality and hydrocarbon indications we have encountered in the Hunton interval, the main objective.”

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“In addition, the discovery of further intervals in the Cromwell and Misener Sands offer additional future potential. Both zones also produce well in the immediate area.

“In the UK, the company is pleased to report cumulative revenues of over US$22,000,000 from Wressle, net to its 40% interest, where the view of the management is that the most productive phase of development lies ahead.

“Also in the UK, ongoing site improvements to the Keddington production asset, in which Union Jack holds a 55% interest, are progressing well and production is expected to commence in the near future.

“We look forward to informing shareholders and the broader market on progress at Taylor following its completion.”

In September, North Lincolnshire Council provided planning consent for an extension of the Wressle oil and gas exploration site in the UK, owned by Union Jack Oil, Europa Oil and Gas and Egdon Resources. Union Jack Oil owns 40% of the oilfield.