The operator of the Wressle oil site near Scunthorpe has confirmed it no longer plans to use acidisation to improve production.
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.
You can keep up with the news here with our digest of headlines about UK fracking, shale and onshore oil and gas, updated daily.
Work on the oil site at Wressle, near Scunthorpe, is now underway, the operator, Egdon Resources, said this morning.
Work to start oil production at the Wressle site near Scunthorpe is still awaiting the discharge of planning conditions.
Union Jack Oil announced this morning it had increased its interest in the Biscathorpe oil site in Lincolnshire.
Union Jack Oil plc is to pay £500,000 to become the largest single investor in the Wressle oil field in North Lincolnshire.
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.
Egdon Resources has said it is cutting costs because low oil prices following the coronavirus outbreak have hit profitability in its fields.