Egdon Resources plc anticipates higher recoverable volumes of oil than 2016 estimates following the late stage start of water production at the Wressle joint venture in North Lincolnshire.
CPR
The operator said that the start of “limited volumes” of water from the Ashover Grit, accounting for an average 3.72% of total fluid produced during July 2023, is “significantly” later than first anticipated.
Cumulative production from the Wressle-1 well totalled 492,876 barrels of oil to the end of July with continuing production under natural flow.
The start of water is being incorporated into ERC Equipoise Ltd (ERCE)’s reservoir modelling and resource assessment, which will delay the new competent persons report (CPR).
ERCE’s 2016 CPR forecast gross volumes from the Ashover Grit of 2P 0.54 MMstb and 3P 1.12 MMstb.
The Wressle joint venture across PEDL180 and PEDL182 comprises Egdon (30%), Union Jack Oil plc (40%) and Europa Oil & Gas (Holdings) plc (30%).