United Oil & Gas (AIM:UOG), the AIM-listed operator with an exploration asset in Jamaica and a development asset in the UK, has appointed NRG Well Management to conduct a drilling rig and long-lead availability study.
The study will inform United's ongoing farm-out discussions on the Walton-Morant licence, offshore Jamaica, which the company says holds prospective resources of more than 7 billion barrels.
NRG will engage directly with international rig contractors and supply chain vendors to assess rig suitability, market day rates and mobilisation timelines, alongside long-lead equipment procurement schedules.
The work targets capability for drilling the Colibri prospect, which carries mean prospective resources of 406 million barrels of oil in roughly 750 metres of water, and potential follow-on drilling at the Thunderball lead, holding 603 million barrels of mean prospective resources in roughly 1,900 metres of water.
Combined, the two targets account for over 1 billion barrels of the licence's mean prospective resource estimate.
The company stressed the study is a forward-planning exercise and does not commit United to drilling, with any future programme subject to regulatory approval from the Government of Jamaica and commercial agreements.
"By undertaking this study now, we are positioning the company for operational readiness ahead of future drilling, whilst providing valuable information to support our on-going work as we push to conclude the Jamaican farm-out process," said Donal Meehan, chief operating officer.
United expects the study to conclude in the coming weeks, with findings to be reported to the market in due course.
News Intelligence what this means for the company
United Oil & Gas has commissioned NRG Well Management to study rig availability and procurement timelines for potential drilling at its Walton-Morant licence in Jamaica, targeting the Colibri prospect (406 million barrels) and Thunderball lead (603 million barrels). The study is explicitly non-binding and designed to support ongoing farm-out discussions; it does not commit the company to drill and remains subject to Jamaican regulatory approval and commercial agreements. This follows the company's farm-out progress announced in July 2026, moving from partnership negotiation into operational readiness planning.
The study advances the Jamaica asset from exploration concept toward drilling readiness, reducing execution risk for a potential farm-in partner and strengthening United's negotiating position in farm-out talks. However, the work remains preparatory—no drilling commitment, no partner confirmed, and no timeline disclosed—so near-term value creation depends entirely on concluding a commercial farm-out agreement.
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