The pot of oil recently discovered near London's Gatwick Airport just got more sticky.
An independent assessment of the Horse Hill well has estimated there could be about 271 million barrels of oil per square mile. That compares with a prior estimate in April of 158 million.
UK Oil & Gas, which has a 20% interest in the well, was up as much as 53% today. The company's CEO said the study "adds further weight to the potential significance of the HH-1 well and the potential of the Horse Hill licences.''
Recommended Reading
Buffett: ‘No Interest’ in Occidental Takeover, Praises 'Hallelujah!' Shale
2024-02-27 - Berkshire Hathaway’s Warren Buffett added that the U.S. electric power situation is “ominous.”
Kissler: OPEC+ Likely to Buoy Crude Prices—At Least Somewhat
2024-03-18 - By keeping its voluntary production cuts, OPEC+ is sending a clear signal that oil prices need to be sustainable for both producers and consumers.
Aramco Reports Second Highest Net Income for 2023
2024-03-15 - The year-on-year decline was due to lower crude oil prices and volumes sold and lower refining and chemicals margins.
NGL Growth Leads Enterprise Product Partners to Strong Fourth Quarter
2024-02-02 - Enterprise Product Partners executives are still waiting to receive final federal approval to go ahead with the company’s Sea Port Terminal Project.
Marathon Chasing 20%+ IRRs with Los Angeles, Galveston Refinery Upgrades
2024-02-01 - Marathon Petroleum Corp. is pursuing improvements at its Los Angeles refinery and a hydrotreater project at its Galveston Bay refinery that are each boasting internal rate returns (IRRs) of 20% or more.