The London Stock Exchange (LSE) has listed UK Oil & Gas PLC under the ticker symbol “UKOG.” It is categorized as an oil and gas exploration and production company. In addition, it’s a constituent of the FTSE AIM All-Share Index. The company primarily operates in the UK, focusing on exploration and production in the Weald Basin in Southern England. As of this post, UKOG Share Price is at 0.062 GBp.
UK Oil & Gas PLC is a British oil and gas exploration and production company founded in 2003. Here is a brief overview of its history:
- In 2003, the company was founded as Sarantel Group PLC.
- In 2013, the company changed its name to UK Oil & Gas Investments PLC to reflect its shift in focus to oil and gas exploration and production.
- In 2014, the company acquired a 20% interest in the Horse Hill-1 well in the Weald Basin of southern England. This was later found to contain significant oil resources.
- In 2015, the company completed a successful fundraising round, raising £6.5 million to support its operations.
- In 2016, the company acquired a 6% interest in the Broadford Bridge-1 well in the Weald Basin, which was also found to contain significant oil resources.
- In 2019, the company changed its name to UK Oil & Gas PLC.
- In 2020, the company announced that it had secured a long-term production license for the Horse Hill site and began producing oil from the well.
Throughout its history, UK Oil & Gas PLC has faced opposition from environmental groups and local communities concerned about the potential impact of oil and gas exploration and production on the environment and public health.
- Significant oil resources. UK Oil & Gas PLC has interests in several oil and gas exploration and production projects in the Weald Basin of southern England, including the Horse Hill and Broadford Bridge sites. These sites are believed to contain significant oil resources, potentially providing investors with solid returns if the company successfully develops these resources.
- Established track record. The company has been operating in the oil and gas industry for several years and has progressed in its exploration and production activities. This could give investors confidence in the company’s ability to execute its strategy and deliver value.
- Strategic partnerships. UK Oil & Gas PLC has formed strategic partnerships with other companies in the oil and gas industry, including Egdon Resources and Alba Mineral Resources. These partnerships could provide access to additional expertise, resources, and financing to support the company’s growth and development.
- Growth potential. The oil and gas industry is a large and established market with significant growth potential, particularly in emerging markets. If UK Oil & Gas PLC successfully develops its oil resources, it could benefit from this growth and deliver solid returns for investors.
Main Competitors of UKOG
UK Oil & Gas PLC operates in the oil and gas exploration and production industry. Here are some of the company’s main competitors:
- BP PLC. BP is a multinational oil and gas company headquartered in London, UK. It is one of the world’s largest oil and gas companies and operates in several countries.
- Royal Dutch Shell PLC. Shell is another multinational oil and gas company headquartered in the Netherlands. Like BP, it is one of the world’s largest oil and gas companies and has operations in many countries.
- TotalEnergies SE. TotalEnergies is a French multinational oil and gas company that operates in over 130 countries worldwide. It has a strong presence in the industry’s upstream, midstream, and downstream segments.
- Chevron Corporation. Chevron is an American multinational oil and gas company in several countries worldwide. It is one of the world’s largest oil and gas companies and has a diversified portfolio of assets.
- ExxonMobil Corporation. ExxonMobil is another American multinational oil and gas company that operates in several countries worldwide. It is one of the world’s largest oil and gas companies and has operations across the entire value chain of the industry.
