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 recent production and operational update.
Egdon Resources (40 percent stake), noted that cumulative oil production reached 341,100 barrels to January 12, 2023, with no water. Daily production rate is currently at around 850 barrels of oil per day, however, a daily rate of in excess of 1,000 bopd was achieved in late December 2022 following a four day shut-down.
Wressle was discovered in 2014 by the Wressle-1 conventional exploration well, intersecting three productive horizons, Penistone Flags, Wingfield Flags and Ashover Grit, which all returned oil. Partners in the oil field are Egdon Resources (operator) with a 30 percent stake, Union Jack Oil with 40 percent stake and Europa Oil & Gas with the remaining 30 percent.
Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.
