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Stocks•16 April 2026•

1 min read

Union Jack Oil Announces Drilling Delay at Crossroads Well in Oklahoma

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Key Facts

1Union Jack Oil expects the Crossroads well in Oklahoma to spud before the end of April.

2The company flagged a fresh delay to the well timeline by the operator Reach Oil and Gas.

Union Jack Oil PLC has announced a fresh delay in the drilling schedule for the Crossroads well located in Oklahoma, USA. The company noted that the project operator, Reach Oil and Gas, flagged operational adjustments that have pushed the expected spud date to before the end of April. This update follows previous expectations for an earlier commencement, highlighting the logistical challenges often encountered in joint exploration ventures. Despite the setback, Union Jack Oil remains committed to the project as technical preparations continue on-site. Investors are viewing the delay with caution, as timeline shifts can impact short-term capital allocation and production forecasts. The market remains focused on the upcoming commencement of field operations within the next month.