Egdon Resources Announces It Will Move Forward With English Oil and Gas Discovery

egdon resourcesThe company Egdon Resources have recently announced that it will move forward with its plans concerning the Wressle oil and gas discovery. Wressle is located in Lincolnshire, England and has been a huge project for the company for some time now.

In it’s announcement the company explained that it was now one hundred percent comfortable working towards creating a field development plan whilst on the PEDL180 license. The company no longer require other costly and time consuming testing operations.

In a previous testing operation, the Ashover Grit used its flow rates and counted a staggering eighty barrels of oil each day that had been influenced by localised near well bore formation damage. This meant that the flow rates were not typical of what could be obtained from Ashover Grit.

If Egdon Resources are able to solve the problems associated with the ‘skin’, reservoir engineering analysts have predicted that the company could see production rates of more than five hundred barrels of oil each day.

As part of the announcement Egdon Resources explained that it will tackle the ‘skin’ problem with a comprehensive suite of procedures and operations. We are not sure on the details of what this entails, but one thing that is for certain is that the well will be worked on in order to prepare it for production over a long period of time.

The Company are now looking to work on an FDG for Wressle and aim to put a submission into the Oil and Gas Authority in 2016. The company will also be expected to submit permitting and planning applications to the North Lincolnshire Council as well as the Environment Agency. It will not be an easy ride for Egdon Resources but the results could be incredibly worthwhile.

Currently Egdon Resources are looking to phase the production process. Initially the company will focus on the oil reservoir belonging to Ashover Grit.

Mark-AbbottThe Managing Director of Egdon Resources, Mark Abbott has spoken publicly about the work involved. He said that the company are delighted that the results from their work have allowed the PEDL180 venture to move forward.

He further commented that the company were now focused on gaining the appropriate consent in order for them to start oil production from the Ashover Grit. Mark is hopeful that oil production will start in the first half of 2016.