Plans have been submitted for a new sidetrack well, testing and long-term production at the Biscathorpe oil site near Louth in Lincolnshire.
A planning application had been expected after the site operator, Egdon Resources, announced proposals four months ago.
A public consultation will begin when the application has been validated and published.
Lincolnshire County Council has assessed the proposal as an EIA (environmental impact assessment) development. This means the application will include an environmental statement addressing potential impacts on the environment identified by the council.
The proposed sidetrack well will target the Dinantian Carbonate and Basal Westphalian Sandstone reservoirs.
A previous well, Biscathorpe-2, was suspended in 2019 after it failed to find the expected oil reservoir in the Westphalian sandstone.
Egdon’s managing director, Mark Abbott, said today:
“We are pleased to confirm submission of a thorough and robust planning application, completed within the expected timeframe despite the challenges of the current operating environment.”
“Biscathorpe represents a material and financially robust opportunity to secure an indigenous oil resource which would generate local and regional economic benefits and have a lower carbon footprint when compared to imported oil.”
Egdon said drilling was planned for the second half of 2021 if the application were approved.
DrillOrDrop will follow the application through the planning process.
Union Jack finalises Biscathorpe deal
Union Jack Oil confirmed today it had completed the acquisition of a further 15% stake in the Biscathorpe licence from Humber Oil & Gas.
The deal, announced in January, cost £1m. It took Union Jack’s holding in PEDL253 to 45%, making it the largest single investor.
Egdon Resources holds 35.8% and Montrose Industries 19.3%.
Union Jack’s company’s executive chairman, David Bramhill, said:
“We are pleased to have taken this opportunity to have increased our interest to 45% in PEDL253.
“Union Jack’s technical team believe that Biscathorpe represents a material and commercially viable hydrocarbon resource that remains un-tested.”