Weald Basin shale oil unconventional concept play Report

Asset Report 17 December 2024

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In November 2014, the Horse Hill discovery was made by Horse Hill Developments and Magellan Petroleum. The well discovered oil in the upper Jurassic reservoir. There have been a number of studies in the potential oil in place in the eight licences areas within the Weald Basin. These suggest up to 15.7 billion barrels of oil could be in place. In December 2015, UK Members of Parliament voted to allow hydraulic fracturing to take place at depths greater than 1,200 metres beneath national parks, World Heritage Sites and areas of outstanding natural beauty. This is particularly relevant in the Weald Basin with the New Forest and South Downs national parks covering part of the basin. Subsequently in November 2019, the government imposed a moratorium on hydraulic fracturing in England.</div>
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<p class="font-regular" >Weald Basin shale oil unconventional concept play</p>
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