- Business
- Union Jack Oil plc, headquartered in Bath, United Kingdom, and founded in 2011, is an onshore oil and gas company focused on production, development, exploration, and investment opportunities in the United Kingdom and United States hydrocarbon sectors; its core assets include producing fields such as Wressle in the East Midlands (flagship project with high-rate oil and gas from Ashover Grit and Penistone Flags reservoirs), Keddington in Lincolnshire (upgraded facilities yielding 43 barrels per day gross), and Andrews Field in Oklahoma's Seminole County (two wells producing gas and ultra-light crude from Hunton Limestone); development and exploration interests encompass West Newton and Biscathorpe in the Humber Basin and East Yorkshire (latter upgraded to 45% stake via recent acquisition from Humber Oil & Gas for £500,000 pending OGA approval), North Kelsey, Rogers Secondary Recovery Project in Oklahoma (45% interest with Reach Oil & Gas), West Bowlegs, mineral royalty interests in Bakken, Permian, and Eagle Ford shale plays, and the ongoing Sark well in central Oklahoma (spudded August 2025 with joint ventures alongside Reach Oil & Gas); the company targets conventional onshore resources and shale royalties serving energy markets across the UK (East Midlands, Humber Basin, East Yorkshire) and US (Oklahoma, North Dakota, Texas). In recent developments, Union Jack reports debt-free status with robust cash balances exceeding £9.75 million as of mid-2023, resumed Keddington production post-upgrades in June 2025, acquired 45% in Rogers Project and entered multiple Oklahoma joint ventures with Reach Oil & Gas including Taylor 1-16 well awaiting completion, raised £2 million via institutional placing to fund US drilling, released unaudited H1 2025 results showing £454,401 gross profit amid oil price challenges, and announced a further 15% stake increase in Biscathorpe PEDL253 to 45% in November 2025 based on enhanced 3D seismic and technical studies indicating material untested hydrocarbons.