Egdon Commences Drilling Operations at Wressle-1 Conventional Exploration Well

Egdon Resources commenced drilling operations at the Wressle-1 conventional exploration well in Lincolnshire Licence PEDL 180 located to the East of Scunthorpe. 

‘The Wressle-1 well "spudded" at 0300 hours on 19 July 2014. Drilling operations are expected to take around 38 days,’ Egdon Resources wrote on Monday. 

The UK-based company is the operator of the PEDL180 with a 25% interest. Other partners are Celtique Energie Petroleum (33.33%), Europa Oil & Gas (33.33%), and Union Jack Oil (8.33%).

‘Wressle is a conventional hydrocarbon prospect located in the East Midlands Petroleum Province, 5 km southeast of and along the same structural trend as the Europa operated, Crosby Warren field which has been producing for almost 28 years. As a result, Europa rates Wressle as a relatively low risk well with a one in three chance of success,’ Europa Oil & Gas wrote on its website.

The companies are focusing on oil reserves, estimating Prospective Resources at Wressle to be 2.1 million barrels. According to Egdon Resources, ‘operations at this site will not - either now or in the future - involve the process of hydraulic ‛fracking’ for shale gas.’ 

Nonetheless, gas discoveries remain likely in (North) Lincolnshire. Last year, the British explorer said that recoverable shale gas in Lincolnshire could be as much as 16 trillion cubic feet (tcf). 

"We are pleased to be commencing a more active operational period with the start of drilling operations on the Wressle prospect and we look forward to updating shareholders with the results from this well towards the end of August.  Success in our conventional exploration drilling programme could lead to near-term additions to our production and revenue stream and is a key part of our strategy,” Mark Abbott, Managing Director of Egdon commented.