The companies said that during the recompletion work, site operator
The Lidsey-1 well was then put back to pump at half speed, realising an initial restricted average rate of 47 barrels of oil per day before being increased to the higher production rate.
"This is an excellent result for Lidsey. Each phase of well workovers on the Lidsey-1 well has been successful since the workover programmes started on the field at the end of last year. UKOG looks forward to the drilling of the proposed new Lidsey-2 well later this year, which is designed to access the crest of the Greater Oolite reservoir and the majority of Lidsey's Oil in-Place,"
In March, the two companies announced that a competent persons report had shown a P50 best case oil in-place estimate at Lidsey of 9.5 million stock tank barrels with 2P reserves of 36.0 million stock tank barrels and 2C contingent resources of 413.6 million stock tank barrels.
Both companies said at the time that a new reserve and resource report will be commissioned following the drilling of the Lidsey-2 well, and they expect a significant increase in production from the field following the drilling.
The Lidsey field has a fully permitted and operating 2,000-barrel storage facility and its oil is regularly trucked and sold to the nearby
Most Popular Stories
- Homeowners More Satisfied With Mortgage Servicers
- Discounts Help U.S. Auto Sales Sizzle in July
- Recruiting and Keeping the Perfect Employee
- Russia, Ukraine Now Face Off Over Football Clubs
- Colorado Issuing Immigrant Driver's Licenses
- MassMutual Teams Up With ALPFA
- Chrysler U.S. Sales in July Hit 9-Year High
- Fiat Looks Abroad After Chrysler Merger Vote
- Dow Wipes Out Gains for the Year: What Happens Now?
- House Shelves Immigration Bill, Goes on Vacation