Egdon reports 530% increase in oil and gas revenues
The oil and gas operator, Egdon Resources, has reported increased revenues of more than 530% because of rising production and prices.
The oil and gas operator, Egdon Resources, has reported increased revenues of more than 530% because of rising production and prices.
Shares in Union Jack Oil fell more than 20% on the publication of an assessment of the Wressle oil field in North Lincolnshire this morning.
The operator of the Wressle oil well in North Lincolnshire has said production could reach 1,543 barrels per day.
A controversial operation to improve oil flow at a site in Lincolnshire has been successful, the operator said this morning.
A key document needed to allow small-scale fracking at Wressle in north Lincolnshire has not yet been approved.
A workover rig has been delivered to Egdon Resources’ Wressle oil site in North Lincolnshire to prepare the well for production.
The operator of the Wressle oil site near Scunthorpe has confirmed it no longer plans to use acidisation to improve production.
Consultations are underway into plans by Egdon Resources to produce oil, and possibly gas, from its Wressle well near Scunthorpe.