Irish oil junior Providence Resources (LON:PVR) has accessed new gas intervals in excess of 2,000 feet, with a new horizontal well near Chichester in southern England.
This morning the company confirmed that it has completed the new X8v lateral development well at the Singleton field.
Singleton is located within the Weald Basin – which spans southern England and parts of France. The well is the second well to be completed as part of a larger multi-well development program.
Petrophysical analysis of down-hole log data confirmed that X8v encountered 2,414 feet of gross hydrocarbon bearing intervals, with 2,316 feet of net pay.
The company highlighted that the reservoir quality and hydrocarbon saturation are excellent within the pay zone.
X8v, along with the earlier X11 well, is currently being prepared for production.
"The success of the X8v lateral well has demonstrated our capability to drill multi-lateral wells on the Singleton field, which we believe will be a significant component of future field development planning,” technical director John O'Sullivan said.
He added: “the well has encountered a massive porous hydrocarbon bearing section, in excess of our pre-drill estimates, which is encouraging in terms of future production rates.
“We now look forward to completing the wells for production over the coming weeks, thereby providing incremental production at Singleton. These production data could significantly increase the potential recoverable reserves in this sector of the field."