United Oil & Gas Plc has clarified rumors about a commercial oil or gas discovery in Jamaica circulating in the local media.
United in a statement confirmed that it had not drilled any wells in the Walton Morant license and therefore, “no commercial oil or gas discovery has been made”.
The company holds a 100 percent working interest in the asset and is currently engaged in a farm-out process, it said. United’s 2024 work program is focused on conducting piston core sampling, which aims to detect any oil residue before considering future exploration drilling targets.
United CEO Brian Larkin said, “The Walton-Morant License is a vast exploration area containing numerous promising prospects. We are committed to improving our understanding of the resource potential within the license area”.
“We continue working to secure a strategic partner to unlock the immense potential within the license, including recent positive interest that has been shown by several parties. Following securing an extension to the license, our 2024 work program is underway, and we will update the market at the next suitable opportunity,” Larkin added.
United in January secured a two-year extension to the production sharing agreement (PSA) for the Walton Morant License in Jamaica.
Walton Morant is an offshore exploration block measuring 8,649 square miles (22,440 square kilometers) and located south of Jamaica. According to a report cited by United, the asset has 2.4 billion barrels of unrisked mean prospective resource potential, including the initial drill ready Colibri prospect of 406 million barrels of unrisked mean prospective resources.
The PSA was extended until January 21, 2026, by the Jamaican Ministry of Science, Energy, Telecommunications and Transport. United plans to undertake additional technical studies, including piston core sampling and seismic reprocessing, aimed at further de-risking the petroleum system and “better defining the prospects and leads identified on the license”, the company said in an earlier statement.
For 2024, in addition to Walton Morant, United said it plans to focus on the Waddock Cross oil field, where it holds a 26.25 percent working interest in License PL090 in the United Kingdom (UK).
Waddock Cross operator Egdon Resources estimates that the asset contains a significant Stock Tank Oil Initially in Place (STOIIP) gross volume of 57 million barrels, and that a new horizontal well could yield commercial gross oil production of 500-800 barrels of oil per day and approximately one million barrels of recovery per well. Egdon is progressing plans for restarting production at Waddock Cross, United said.
United Oil & Gas said it is “led by an experienced management team with a strong track record of growing full cycle businesses, partnered with established industry players and is well positioned to deliver future growth through portfolio optimization and targeted acquisitions”.
United Oil Shoots Down Rumors of Oil Discovery in Jamaica
United Oil & Gas Plc has clarified rumors about a commercial oil or gas discovery in Jamaica circulating in the local media.
United in a statement confirmed that it had not drilled any wells in the Walton Morant license and therefore, “no commercial oil or gas discovery has been made”.
The company holds a 100 percent working interest in the asset and is currently engaged in a farm-out process, it said. United’s 2024 work program is focused on conducting piston core sampling, which aims to detect any oil residue before considering future exploration drilling targets.
United CEO Brian Larkin said, “The Walton-Morant License is a vast exploration area containing numerous promising prospects. We are committed to improving our understanding of the resource potential within the license area”.
“We continue working to secure a strategic partner to unlock the immense potential within the license, including recent positive interest that has been shown by several parties. Following securing an extension to the license, our 2024 work program is underway, and we will update the market at the next suitable opportunity,” Larkin added.
United in January secured a two-year extension to the production sharing agreement (PSA) for the Walton Morant License in Jamaica.
Walton Morant is an offshore exploration block measuring 8,649 square miles (22,440 square kilometers) and located south of Jamaica. According to a report cited by United, the asset has 2.4 billion barrels of unrisked mean prospective resource potential, including the initial drill ready Colibri prospect of 406 million barrels of unrisked mean prospective resources.
The PSA was extended until January 21, 2026, by the Jamaican Ministry of Science, Energy, Telecommunications and Transport. United plans to undertake additional technical studies, including piston core sampling and seismic reprocessing, aimed at further de-risking the petroleum system and “better defining the prospects and leads identified on the license”, the company said in an earlier statement.
For 2024, in addition to Walton Morant, United said it plans to focus on the Waddock Cross oil field, where it holds a 26.25 percent working interest in License PL090 in the United Kingdom (UK).
Waddock Cross operator Egdon Resources estimates that the asset contains a significant Stock Tank Oil Initially in Place (STOIIP) gross volume of 57 million barrels, and that a new horizontal well could yield commercial gross oil production of 500-800 barrels of oil per day and approximately one million barrels of recovery per well. Egdon is progressing plans for restarting production at Waddock Cross, United said.
United Oil & Gas said it is “led by an experienced management team with a strong track record of growing full cycle businesses, partnered with established industry players and is well positioned to deliver future growth through portfolio optimization and targeted acquisitions”.
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