Union Jack Oil updates on Wressle

Union Jack Oil plc (LON:UJO) a UK focused onshore hydrocarbon production, development and exploration company, has provided an update on operations at the Wressle oilfield presented by Egdon Resources plc at the Community Liaison Group meeting held on the evening of 15 March 2023.

At the meeting the following information was shared with members of the CLG: 


·   The Wressle-1 well has continued to flow oil and associated gas at production rates above forecast expectations made ahead of the successful Proppant Squeeze operation, conducted in August 2021

·      Total production from Wressle has now exceeded 390,000 barrels of oil

·      No water has been produced to date

·      Three microturbines were connected during January and February and are now fully operational

·      An extended period of fine tuning and testing of the microturbines to determine the impact on production is currently ongoing

·    The Environment Agency continues to monitor Egdon’s production operation through regular visits to the Wressle site, the most recent being on the 22 February 2023, with no issues identified by the Regulator

·      There have been no accidents or spillages since the start of production on the Wressle site

·    Groundwater and surface water monitoring has continued and latest results up to end December 2022, have been published on Egdon’s newly revamped community website

Forward Plan

·    During the second half of 2022, Egdon undertook an exercise to reprocess the 3D seismic data over the field

·    The new data has been interpreted and mapped with the objective of identifying reservoir targets for drilling an additional well/wells at the earliest opportunity, subject to receipt of regulatory approval

·      The next new well/wells will likely be drilled from the existing Wressle wellsite

·      A new Competent Person`s Report has been commissioned incorporating the new field interpretation and production performance data.  This will consider all oil and gas bearing formations at Wressle

Community Fund

·      The Wressle Community Fund has been operating since early 2022

·    In  August 2022, the operation of the fund was transferred to Broughton Community and Sports Association (BCSA) which runs the fund to meet the needs of local charities and community groups

·      Groups which are outside the remit of the BCSA can still apply directly to Egdon for funding from a smaller pot which is retained to meet these needs

·     The Wressle Partners are making £100,000 a year available to local groups though these two funding pots

·      The first of three windows per year for the Wressle Community Grant closed on 31 December 2022, with 12 applications received amounting to £42,029.60

·    The Wressle Partners provided additional funding of c. £5,500 to allow all eligible applications to be granted

Union Jack Oil holds a 40% economic interest in PEDL180 and PEDL182 containing the Wressle development.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Share on twitter
Share on linkedin
Union Jack Oil

More articles like this

Union Jack Oil

Union Jack Oil declares interim dividend to shareholders

Union Jack Oil plc (LON:UJO), a UK focused onshore hydrocarbon production, development and exploration company, has declared an interim dividend to shareholders. The financial position of Union Jack during 2022 and the first quarter of 2023, has been

Union Jack Oil

Oil prices rose today

Oil prices rose on Monday as investors assessed efforts by authorities to rein in worries about the global banking system, while Russian President Vladimir Putin’s plans to place tactical nuclear weapons in Belarus ratcheted up tensions in Europe.

Union Jack Oil

Union Jack Oil revenues from Wressle continue to bolster Balance Sheet

Union Jack Oil plc (LON:UJO) a UK focused onshore hydrocarbon production, development and exploration company, has announced that material landmark net revenues, well in excess of US$14,000,000 have been achieved from the Wressle hydrocarbon development, located within licences

Union Jack Oil

Oil rises as banking fears ease

Oil rose on Tuesday, extending a recovery from a 15-month low hit the previous day, as the rescue of Credit Suisse eased worries about global banking sector risks that could hit economic growth and fuel demand. After jitters

Union Jack Oil

Oil rebounds 1%

Oil prices rebounded by about 1% on Friday after a meeting between Saudi Arabia and Russia calmed markets amid strong China demand expectations, after a banking crisis sparked a sell-off in global financial and oil markets this week.

Union Jack Oil

Oil prices rebound from three-month lows

After two days of losses triggered by fears of a banking sector meltdown after the collapse of Silicon Valley Bank, oil prices rebounded early on Wednesday, pushed higher by increased Chinese refinery activity, estimated drawdowns in U.S. product

Union Jack Oil

Oil prices steady

Oil prices were little changed on Tuesday after five sessions of gains, with weak oil data from top crude importer China balanced by concern over supply. Brent crude futures fell 22 cents, or 0.26%, to $85.96 a barrel

Union Jack Oil

Oil gains slightly

Crude oil prices gained slightly after the Energy Information Administration confirmed the API’s estimate of an inventory build for the week to February 25. Crude oil inventories added 1.2 million barrels in the reporting period, the EIA said, adding that

Union Jack Oil

Oil rises on China demand hopes

Oil prices rose on Monday amid optimism over China’s demand recovery, concerns that underinvestment will crimp future oil supply and as major producers keep output limits in place. Brent crude rose 70 cents, or 0.8%, to $83.70 a

Union Jack Oil

Oil edges up as market shrugs off U.S. inventory surge

Oil prices angled upward in early Asian trade on Thursday as the market shrugged off a giant U.S. crude inventory build and the International Energy Agency boosted its demand outlook. Brent crude futures LCOc1 rose 26 cents to $85.64 per

Union Jack Oil

Oil prices jump on world markets

Oil prices were broadly steady on Thursday as the prospect of higher fuel demand in China as it reopens post-COVID curbs was offset by fears that U.S. crude stocks hitting their highest for months may signal weakening demand in the

Union Jack Oil

Oil climbs from one-month low

Oil rose as a major oil pipeline was temporarily halted, while key producers flagged stronger Chinese demand just as more sanctions on Russian flows take effect. West Texas Intermediate climbed toward $74 a barrel after closing on Friday

Union Jack Oil

Union Jack Oil achieves landmark US$13,000,000 revenues from Wressle

Union Jack Oil plc (LON:UJO) a UK focused onshore hydrocarbon production, development and exploration company, has announced that material landmark net revenues of US$13,000,000 have been achieved from the Wressle hydrocarbon development, located within licences PEDL180 and PEDL182

Union Jack Oil

Oil stable as market awaits Fed

Oil prices were broadly stable as the market is looking towards a meeting of OPEC and its allies as well as a Federal Reserve rate decision and U.S. government data on crude and fuel stockpiles on Wednesday. Brent

Union Jack Oil

Wressle surpassing expectations

Europa Oil & Gas, one of the three partners in the Wressle (PEDL 180/182) oil field in Lincolnshire, UK, on the Western margin of the Humber Basin, noted that a lot of positives can be seen in the

Union Jack Oil

Oil prices rally to highest close since Dec. 1

Oil prices settled 1% higher on Thursday, extending a recent rally built around rising Chinese demand, while the market wrote off a second straight week of large builds in U.S. crude inventories. Brent crude futures gained $1.18, or

Union Jack Oil

Oil near 2023 highs

Oil prices held near this year’s highs on Monday as easing COVID restrictions in China raised expectations for a demand recovery in the world’s top crude importer. Brent crude fell 38 cents, or 0.45%, to $84.90 a barrel

No more posts to show