Council pays £403,000 costs over Wressle planning dispute
North Lincolnshire Council has paid costs of £403,000 after losing an appeal on plans for oil production at Wressle, the site operator has confirmed.
Union Jack plans to pull out of licences where falling value pushes up annual loss
The exploration and production company, Union Jack Oil, is planning to withdraw from three licences in 2020 because of falls in their value.
“Fracking moratorium more likely to be reversed by politics than science”
Updated 24 April 2020 The investment bank, VSA Capital, has hinted that politics, rather than science, could overturn the moratorium on onshore fracking in England.
“Oil prices to remain low and very volatile”
The former head of BP and the fracking firm Cuadrilla has warned that oil prices will remain low for “some considerable time”.
Egdon’s late life oil fields “unprofitable” at current prices
Egdon Resources has said it is cutting costs because low oil prices following the coronavirus outbreak have hit profitability in its fields.
Europa cuts costs to fund Wressle oil production
Europa Oil & Gas, one of the main investors in oil production plans at Wressle, announced today it had cut salaries and cancelled non-core contracts because of the coronavirus outbreak and oil price falls.
Oil partners “optimistic” about finding oil with Biscathorpe sidetrack
An oil formation in Lincolnshire, missed by a well drilled last year, could be reached by a new sidetrack, a group of companies said today.
Wressle production will “break even at $17.62/barrel” – operator
Production from the Wressle oil site near Scunthorpe will break even at $17.62 a barrel, the operator, Egdon Resources, has said. In an update, the company’s managing director, Mark Abbott, said: “Our modelling shows that the Wressle development is economically robust at and below the current oil price […]
“UK politics currently too uncertain for fracking” – Third Energy
Third Energy, the company behind plans to frack in North Yorkshire, has announced it now has no immediate shale gas plans.
Who drilled where in 2019?
The number of onshore oil and gas wells drilled in the UK in 2019 was up slightly on 2018, which was a 68-year low for the industry. This year, operators spudded (began drilling) four, or possibly five wells, depending on how you count your wells.
