Industry

“Biscathorpe analysis raises hopes in PEDL253” – drilling companies

190106 biscathorpe eddy thornton 3

Biscathorpe oil exploration site, Lincolnshire Wolds Area of Outstanding Natural Beauty, 6 January 2019. Photo: Eddie Thornton

A drilling licence in Lincolnshire remains one of the UK’s largest untested onshore prospects, Union Jack said today, even though the most recent well was suspended without finding oil or gas.

The Biscathorpe-2 well in PEDL253 was sealed in February 2019 after the primary target, the Basal Westphalian sandstone, was reported to be poorly developed.

But in statements today, the operator, Egdon Resources, and its partner, Union Jack Oil, said new analysis revealed the presence of hydrocarbons in both the Westphalian and the deeper Dinantian Limestone.

They said work by independent consultants, APT, supported the existence of a “significant column of good quality oil within the Dinantian”.

The results were “all indicative of a working petroleum system in close proximity to the Biscathorpe-2 well”, the statements said. Gas readings also suggested an additional hydrocarbon pay below 2,133m.

David Bramhill, executive chairman, of Union Jack, said:

“Biscathorpe, in the opinion of Union Jack’s management, remains one of the UK’s largest onshore un-appraised conventional hydrocarbon prospects.

“In our opinion, the Basal Westphalian sandstone that was the primary target of the Biscathorpe-2 well, remains untested, as do the hydrocarbons unexpectedly encountered within the Dinantian.”

Mark Abbott, managing director of Egdon, said:

“The results of the revised petrophysical analysis and the APT Report have upgraded the Biscathorpe-2 well result, confirming the likely presence of a 35 metre column of good quality oil within the Dinantian interval.

“This along with the elevated gas readings and oil shows over an extended interval in the well are indicative of proximity to an effective petroleum system and validate the potential that exists within the PEDL253 licence area.”

The companies said they would reprocess of existing 3D seismic data before deciding the next stages of work. This could include a sidetrack of the suspended Biscathorpe-2 well, they said.

A spokesperson for Frack Free Lincolnshire said:

“Drill deep enough anywhere and there are untapped oil reserves – but at a time of global climate emergency, all fossil fuel is fools’ gold”.

Andrew McLeod, of Frack Free Isle, said:

“It beggars belief that as the climate emergency becomes more severe day-by-day, the oil and gas industry seem totally indifferent to the harm they are doing to the well-being of us all.

“We can’t even afford to burn all the oil and gas in already-operating wells without pushing global heating beyond the 1.5 degree danger threshold, yet for these irresponsible companies and their investors, nothing matters but their profits.

“With so little time left to avert climate catastrophe, we have to de-carbonise our energy sector as quickly as possible – bringing new oil and gas production on-stream is a reckless gamble with our future.”

Biscathorpe-2 is in the Humber Basin and described as on trend with the Saltfleetby gasfield – recently bought by Angus Energy – and the Keddington oil field.

8 replies »

  1. Looks like the two companies doing what they are obliged to do-informing the market. If they then decide they need to raise some extra cash to explore this project further, then the investors may be brought into the equation. Until then, both companies have more immediate projects to “excite” the investors. (Why should the antis have a monopoly on being excited about very little?)

    • No, Jono, I was adding some factual comments, as is the title of the section. Maybe you could do the same? If you don’t want to, that is your choice but not sure how just typing out grumpiness adds much, but if it makes you feel better, fine.

  2. Waffle: invest if you must, don’t if you won’t! Seems your speculating but it also seems you are much of a risk taker and couldn’t handle the return!

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