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.
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 […]
Egdon Resources has won an appeal over the right to operate its Wressle wellsite for another year.
Edgon Resources confirmed this afternoon it had begun drilling its oil exploration well at Biscathorpe, near Louth in Lincolnshire.
Egdon Resources says it has submitted another planning application for oil production at the Wressle site near Scunthorpe.
Egdon Resources announced today it was “fully committed” to its oil well at Wressle near Scunthorpe and would submit new planning applications to develop the site.
Egdon Resources plc announced this morning it had begun its appeal against the refusal of planning consent for its Wressle oil site near Scunthorpe.