Europa Oil & Gas (Holdings) Plc chief executive Simon Oddie says the company is delighted with the Wressle field’s expectation beating production performance.
Gross production rates at Wressle exceed 950 barrels oil equivalent per day, comprising 884 barrels of oil and 480,000 cubic feet of gas per day, on a significantly restricted choke and with zero water cut.
The full potential production flow has yet to be fully tested.
"We are delighted to report this instantaneous rate of over 950 barrels of oil equivalent per day at the Wressle-1 well, a substantial increase to our previous expectations,” Oddie said. “Combined with high current oil prices in excess of $70 per barrel, Wressle is providing Europa with a major revenue stream.
Oddie added: “In the UK onshore Wressle is now second only to Wytch Farm, Dorset in terms of daily production."
The project has also now received a revision to the project’s environmental permit, to include a combustion plant that will facilitate gas-to-electric generation.
Europa holds a 30% interest in the field alongside partners Egdon Resources and Union Jack Oil which own 30% and 40% respectively.