Egdon Resources Says Wressle-1 Production Exceeds Expectations

By Jaime Llinares Taboada

Egdon Resources PLC said on Tuesday that initial oil and gas production from the onshore Wressle-1 well in England was better than expected.

Egdon, which operates and owns 30% of the Wressle project, said the well was delivering 884 barrels of oil and 480,000 cubic feet of gas per day over a restricted choke, with no formation water.

However, Egdon said the full potential of the well remains to be seen due to the constraints.

“The provisional plan is to remove these production constraints and complete the tests of the well’s potential before defining a plateau production rate corresponding to the behavior of the well at the installations installed, to long-term operational objectives and to prudent management. from the reservoir, ”he said.

The well has generated over 300,000 pounds ($ 409,740) in revenue for Egdon since it returned to production on August 19.

Union Jack Oil PLC holds a 40% stake in the development of the Wressle field and Europa Oil & Gas (Holdings) PLC holds the remaining 30%.

In addition, Egdon said the 3D seismic study scheduled for February on its 30% -owned Resolution and Endeavor gas discoveries would not be proceeding on schedule.

Write to Jaime Llinares Taboada at [email protected]; @JaimeLlinaresT

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