Egdon Resources has said it is cutting costs because low oil prices following the coronavirus outbreak have hit profitability in its fields.
Union Jack Oil said this morning it had acquired an extra 35% stake in the Keddington oilfield in Lincolnshire.
Egdon Resources has got the go-ahead for 15 years of oil production at its Wressle site near Scunthorpe.
DrillOrDrop’s round-up of the possible action on UK fracking and onshore oil and gas developments in 2020.
The government’s moratorium on fracking will not affect plans to enhance oil and gas production in north Lincolnshire, Egdon Resources said today.
Egdon Resources’ new well at Biscathorpe, near Louth in Lincolnshire, has failed to encounter the oil formation it was targeting, the company said this afternoon.
Summary of recent activity and expected operations at key sites, including applications, decisions, company plans and licence changes.