The first onshore exploration well in Lincolnshire Wressle prospect has been spudded, the licence majority shareholder Europa Oil & Gas has reported.
The Wressle-1 in licence PEDL 180 is targeting conventional Upper Carboniferous age sandstone reservoirs in the East Midlands Petroleum Province, 5 kilometres southeast of the Europa-operated Crosby Warren field, which has been producing for almost 28 years.
The well will be drilled to a total planned depth of 2300 metres within 38 days, according to the operator Egdon, with well results expected by the end of August.
Egdon, holding a 25% interest in Wressle, estimated the prospect has a mean gross un-risked recoverable resources of 2.1million barrels of oil.
Europa Oil & Gas and Celtique Energie Petroleum each own 33.3% shares, while Union Jack Oil holds the remaining 8.3%.
“With a one in three chance of materially adding to our existing production, Wressle has been long anticipated and we are delighted that it has spudded,” said Hugh Mackay, Europa’s chief executive.
“Thanks to the progress made across our portfolio in recent months, Wressle is the first of what we believe will be a multi-well drilling programme over the course of the next eighteen months.”
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