UK-based Europa Oil & Gas said Monday that it drilled dry at the Kiln Lane-1 conventional exploration well in onshore England.
Kiln Lane-1, located at license PEDL 181 in Northeast Lincolnshire, was spudded on February 23 and reached a total depth of 7,516 feet.
Sandstones in the Westphalian and Namurian intervals were penetrated in line with the pre-drill geological model and “significant” oil and gas shows were observed during drilling operations.
Wireline logging and subsequent petrophysical analysis indicates that the sandstones encountered are water wet, Europa Oil & Gas said.
The well will be plugged and abandoned and the site will be restored to agricultural use.
Kiln Lane-1 is the first well to be drilled in PEDL 181.
Europa operates PEDL 181 with a 50 percent working interest.
UK-based Egdon Resources holds a 25 percent interest and UK-based Celtique Energie Petroleum holds a 25 percent interest.
Europa said that it, along with its partners, will conduct a detailed post-drill technical review of all relevant well and seismic data to determine a plan for exploring PEDL 181.
“While we are disappointed with the outcome, Kiln Lane was drilled on schedule, on budget and safely. This is testament to the performance of both our own technical team and the engineering crew on the ground,” Europa CEO Hugh Mackay said.