Egdon Resources Proceeds with Lincolnshire Plans
Egdon Resources exercised its option to farm in to UK Onshore Production Licences PL161 (Block SE/60b) and PL162 (Blocks SE/70a and SE/80b). The company clinched an agreement with Scottish Power Generation in December 2013.
UK Onshore Production Licences PL161 (Block SE/60b) and PL162 (Blocks SE/70a and SE/80b) located in Lincolnshire and South Yorkshire.
‘During the Option Period, Egdon undertook a full evaluation of the hydrocarbon potential of the Exploration Area, which included reprocessing all relevant existing 2D seismic data. Egdon is very encouraged by the results of this evaluation, both in terms of conventional and unconventional prospectivity, and has elected to exercise its option’ the company wrote in a note.
WRESSLE-1 WELL
The Environmental Agency asked additional monitoring to Egdon Resources for its application to test the Wressle-1 well located in licence PEDL180 to the East of Scunthorpe in Lincolnshire.
‘Egdon advises that the Environment Agency (‘EA’) permit variation for testing operations was issued on 1 December 2014. The permit includes additional monitoring requirements to those originally envisaged under Egdon’s own risk assessment process’ Europa Oil & Gas wrote on Thursday.
Egdon Resources is the operator of the well, holding 25% working interest. Celtique Energie Petroleum (33.3%), Europea (33.3%) and Union Jack Oil (8.3%) are the other three partners.
Egdon announced its resolve to test potential hydrocarbon bearing zones in three reservoir intervals, saying it will submit its revised method statement this week. The companies said that Wressle is a ‘conventional hydrocarbon prospect.’
The EA will decide whether to approved the monitoring methodology.
‘Egdon expects to begin mobilisation to the Wressle-1 site during the week beginning 5 January 2015 with testing operations to start shortly thereafter.’
Despite the recent plunge in tax revenues from oil and gas activities, the British government remained committed to helping the local industry to tap indigenous resources. On Wednesday, it announced measures to decrease taxes for exploration and production.