Beacon Energy plc began commercial production at lower than expected rates following installation of a rod pump on the Schwarzbach-2(2.) well in the Erfelden field, Hessen. STIMULATION Initial rates fell, indicating legacy drilling fluids had invaded the reservoir less than three metres around the wellbore restricting flow rates, said the company. The well has now […]
Tag: Beacon Energy plc
Beacon increases Erfelden best estimate reserves
Beacon Energy plc has nearly doubled its Erfelden field reserves estimate after including drill results of the Schwarzbach-2(2.) well. QUALITY RESERVOIRS The field in Hessen comprises four juxtaposed structural compartments of Kuehkopf, Stockstadt Mitte, Schwarzbach Main and Schwarzbach South. SCHB-2(2.) previously encountered a 34-metre gross interval containing 28m of oil-bearing net reservoirs in the Pechelbronner-Schichten […]
Beacon grants 500m share options to directors and employees
Beacon Energy plc has granted options over a total 503,565,644 ordinary shares of nil pence each in the capital of the company to its directors and employees. DIRECTORS The options are exercisable at 0.15 pence per ordinary share, being the issue price at the company’s £4.3 million fundraise in September. Beacon has also reached agreement with […]
Union Jack invests in Beacon Energy
Union Jack Oil plc has purchased its first international interest with a 3.22% stake in onshore Germany-focused oil and gas company Beacon Energy plc. SYNERGY The purchase is equivalent to 439 million shares in the production, development, appraisal and exploration company through its wholly owned subsidiary, Rhein Petroleum GmbH. Union Jack’s acquisition was part of […]