Plans have been submitted for a new sidetrack well, testing and long-term production at the Biscathorpe oil site near Louth in Lincolnshire.
The largest investor in the Wressle oil field, Union Jack Oil, is seeking to enhance its image and attract a wider group of investors by reducing the number of shares in the company.
Another well at Rathlin Energy’s West Newton-B site is due to be drilled in the second half of 2021, according to an update to shareholders today.
Drilling results from Rathlin Energy’s West Newton B site in East Yorkshire indicate a “substantial hydrocarbon accumulation”, partners said this morning.
Union Jack Oil announced this morning it is to lend £1m to Egdon Resources, the operator of the Wressle oil site in north Lincolnshire.
One of the targets of the West Newton-B exploration site in East Yorkshire contained “insufficient reservoir development”, partners in the project announced this morning.
Egdon Resources has announced plans for a new well and oil production at its site at Biscathorpe in Lincolnshire.
Union Jack Oil has raised £7m for work at oil sites in the East Midlands and future acquisitions.
Losses in Union Jack Oil more than doubled in the first half of 2020, compared with the same period last year.
Drilling at Rathlin Energy’s West Newton B site in East Yorkshire is due to start in “the next few weeks”, one of the leading investors said this morning.