480,000 cubic feet of oil and gas per day discovered in UK
A group of British oil and gas companies have opened a new well in Lincolnshire despite global gas shortages which are expected to affect prices.
Following the completion of the coiled tubing operations on August 19 2021, the new well has “exceeded production expectations.” The well has achieved flow rates in excess of 884 barrels of oil per day and in addition, 480k cubic feet of gas per day.
Europa Oil & Gas holds a 30 per cent working interest in the new site, alongside Egdon Resources U.K. Limited (30 per cent and operator), and Union Jack Oil (40 per cent).
Simon Oddie, CEO of Europa said: “We are delighted to report this instantaneous rate of over 950 barrels of oil equivalent per day at the Wressle-1 well, a substantial increase to our previous expectations.
“Combined with high current oil prices in excess of $70 per barrel, Wressle is providing Europa with a major revenue stream. In the UK onshore Wressle is now second only to Wytch Farm, Dorset in terms of daily production”.
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