Egdon Resources UK Ltd has submitted a “thorough and robust” planning application to Lincolnshire County Council for a conventional B-2Z side-track appraisal well at Biscathorpe.
JOINT VENTURE
The application submitted last Friday (26 February) includes side-track drilling operation, associated testing and long-term production of hydrocarbons at the Biscathorpe-2 wellsite in licence PEDL253.
Drilling is planned for the second half of 2021 subject to planning approval.
The news comes as joint venture (JV) partner Union Jack Oil plc became the site’s largest shareholder after completing a further 15% acquisition in the project from Humber Oil & Gas.
The JV now comprises operator Egdon Resources (35.8%); Union Jack (45%); and Montrose Industries Ltd (19.2%).
OPPORTUNITY
Biscathorpe is located within the hydrocarbon fairway of the Humber Basin, on-trend with the Keddington oilfield (Union Jack 55%) which produces oil from a Carboniferous Westphalian aged reservoir.
The Biscathorpe-2Z side-track conventional appraisal well would target the Dinantian Carbonate and Basal Westphalian Sandstone reservoirs.
“We are pleased to confirm submission of a thorough and robust planning application, completed within the expected time frame despite the challenges of the current operating environment,” said Egdon managing director Mark Abbott.
“Biscathorpe represents a material and financially robust opportunity to secure an indigenous oil resource which would generate local and regional economic benefits and have a lower carbon footprint when compared to imported oil.”