Introduction
Union Jack Oil and Europa Oil & Gas (Holdings) have announced the successful resumption of production at the Wressle-1 well, located onshore in the Wressle oilfield in England.
Efficient Operations
Following the installation of a jet pump and associated surface equipment, the well is now producing at gross rates exceeding 950 barrels of oil per day. This is a significant increase from the previous production rate of around 750 barrels per day, prior to the jet pump installation.
Continuous 24-Hour Production
With the jet pump and associated equipment functioning as expected, the Wressle-1 well is now operating continuously on a 24-hour production schedule. Over the next few days, it is expected to further improve its output as it undergoes an ongoing cleaning process.
Resumption of Export and Sale of Oil
The resumption of production also signifies the resumption of the export and sale of oil from the Wressle oilfield. Once production stabilizes, additional information will be shared by the oil companies involved.
Timely Project Completion
Installation work for the jet pump system and associated equipment commenced at the end of August. The estimated timeframe for completion was approximately three weeks, with production expected to recommence by late September. These targets were successfully met.
Partnership Details
Union Jack Oil holds a 40% interest in the Wressle-1 well, while Europa Oil & Gas (Holdings) holds a 30% stake. Egdon Resources holds the remaining 30% share in Wressle.
GEA Group Reports Increased Profit in Q3
Our Latest News
Bank of Canada Survey Indicates Potential Interest Rate Cut
The Bank of Canada survey suggests a potential interest rate cut in April, with implications for inflation and the economy. Economists predict rate cuts in 2024...
Biogen Announces Staff Reductions and Plans for Alzheimer's Disease Therapy Launch
Biogen is preparing to release a groundbreaking therapy for Alzheimer's disease and is implementing staff reductions. The cost-saving initiative is estimated to...
DCC Reports Strong First-Half Results and Announces Acquisition of Progas
DCC reaffirms guidance for the year with rise in adjusted operating profit. Progas acquisition to drive growth and expansion in energy solutions business. Optim...