Egdon Resources (LON:EDR) announced this morning it has begun drilling operations at the Keddington oil field in Lincolnshire. Egdon Resources is an oil and gas exploration and production company, focused on onshore UK and mainland Europe. It holds a 75% interest in and is operator of the PEDL005 prospect. The joint venture partners are Terrain Energy Limited, which holds a 15% interest and Alba Resources Limited, a wholly owned subsidiary of Nautical Petroleum plc, which holds a 10% interest. Terrain has also recently payed Edgon £50,000 for the final part of its interest in the Keddington license.
According to the report, the Keddington-3 well will be drilled as a re-entry and horizontal sidetrack from the Keddington-2y "donor" well which was drilled by Roc Oil in 2000. To date, the well has been contributing 25-30 barrels of oil per day to field production since being recompleted for pumped production by Egdon in early 2009. However, the board reported that production has been restricted since the well was drilled, by the presence of a drilling assembly stuck in the open hole just below the existing casing and perforations. By drilling Keddington-3, and penetrating approximately 500m of new horizontal section, the company expect to significantly increase field production going forward. The well is expected to be completed for pumped production using the existing surface production facilities once the rig is released from site. These drilling and completion operations are expected to last a total of around three weeks. The report also confirmed that the production at the adjacent Keddington-1z has been suspended for safety reasons. They plan to resume activity once the rig has been removed from the prospect.
oh just love that picture!!!
