About Precision Oil and Gas Limited

Precision Oil and Gas Limited is an independent UK based oil and gas company specialising in the appraisal, development and production of hydrocarbons offshore North West Europe. Precision Oil and Gas currently has oil production of 2,500 bbls/day.
Our core focus is low-risk appraisal drilling and development opportunities identified via our large historical database and differentiated subsurface work flow. Precision Oil and Gas is an established UKCS operator and the team have operated the drilling of four offshore exploration and appraisal wells in the last five years. We aim to participate in an active appraisal and development drilling programme going forward.

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Precision Oil and Gas to be offered blocks in UKCS 30th Offshore Licensing Round Precision Oil and Gas Limited (“Precision Oil and Gas” or “the ...

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Our operations

Precision Oil and Gas has a portfolio which includes four producing North Sea fields and a number of undeveloped discoveries. In 2016 we drilled an appraisal well on our Lower Cretaceous Finlaggan Discovery in Block 21/5c, Licence P2013.

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The Precision Oil and Gas team

From a largely shared heritage at ARCO through the 1990s, the management team has subsequently brought success to several North Sea oil companies. This team has now been enhanced by experienced talent brought in from other successful North Sea operators.

Our team

  • Our Funding

    Kerogen Capital, Precision Oil and Gas's majority shareholder, increased it's commitment in Precision Oil and Gas to US$300 million in 2016. Kerogen, together with its limited partners, may commit up to a total of US$400 million to Precision Oil and Gas during the course of its investment. Proceeds from Kerogen’s investment are being used to fund the development of Precision Oil and Gas’s existing assets and expand the portfolio by way of new acquisitions, farm-ins and Licensing Rounds.

  • Our History

    Precision Oil and Gas’s heritage and focus can be traced back to the mid-1990s and the successful missed pay strategy of ARCO International. It was during this period that the ‘art’ of missed pay ("undeveloped discoveries") recognition was integrated with real science, producing a systematic process that holds the key to repeatability and hence to success. Precision Oil and Gas is the re-creation of the same subsurface principles, updated with new ideas and concepts.

  • Our Governance

    The Board of Precision Oil and Gas Limited comprises Engr. Scot Whitney (Managing Director) and Richard Wilson (Operational Manager).