Egdon Resources’ core focus is on its conventional assets, and the commencement of oil flow at Wressle was the most significant event for the six months to 31 January 2021. The company is targeting 150boed net here, pending further activity. Production during the period was 92boed, down from 178boed in H120 and guidance for FY21 is 110–130boed.
Further planned onshore drilling will depend on successful farm-outs, while offshore, the 2020 farm-out of the Resolution and Endeavour gas discoveries to Shell will fund a 3D seismic survey, though this has slipped into 2022. Egdon is also screening geothermal opportunities, and signed an MoU with Creative Geothermal Solutions (CGS) to facilitate progress both within Egdon’s portfolio and beyond.
Egdon Resources plc (LON:EDR) is an independent onshore focused oil and gas exploration and production business. An established oil and gas exploration and production business with 41 licences in proven oil and gas producing basins in the UK.