English Onshore Remains Commercially Attractive, Says Egdon Resources

UK-focused Egdon Resources said that its Wressle field in licence PEDL180 located to the East of Scunthorpe remains commercially attractive.

“These are very encouraging results, with free-flowing rates of 80 bopd of good quality oil from the first zone tested.  We now look forward to the results from two further intervals which could add further substantial production potential to that demonstrated from the Ashover Grit” Mark Abbott Managing Director of Egdon Resources said in a note, commenting the first tests.  

According to the company, test operations have now been completed on the Ashover Grit reservoir, the first of three potentially hydrocarbon bearing zones identified in the well. 

Egdon is the operator of the discovery, in which it has a 25% interest.  

“During this period of reduced oil prices, the low development and operating costs of onshore UK production means that discoveries such as Wressle remain commercially attractive and we look forward to progressing plans for a longer term pumped production test on the Ashover Grit and any of the other zones which show potential” Abbott concluded.  

Egdon Resources focused its attention on oil, but the comments might turn out to have an impact on gas too.

Last week, the company agreed the sale of its interests in two non-core licences in Southern England to UK Oil & Gas Investments PLC.

Egdon is involved in the exploration and production of conventional oil and gas in the UK and France and the exploration for unconventional oil and gas resources in the UK.