Lidsey-X2, a conventional production well, will target the existing Great Oolite Reservoir.
Lidsey-X1, which is a production well, is suspended temporarily because of site preparation works for the drilling of Lidsey-X2. Presently, design operations are underway which can either convert the Lidsey-X1 into water injector or to produce from the Kimmeridge.
Angus Energy stated that no decision will be taken until a full analysis of Lidsey-X2 drilling results are completed.
The Lidsey-X2 is expected to pass through the Kimmeridge formation, allowing Angus Energy to assess its potential at the southern edge of the Weald Basin. The company stated that the formation will be thoroughly logged.
It also stated that its operational guidance from 8 September has not changed. The present works have an expected operating window of about six weeks before actual production from the Lidsey-X2 horizontal well would begin.
The company acquired a 10% stake in Terrain Energy in May of this year and with this move, it will now own 60% direct interest in Lidsey oil field and a 50% economic interest in the Lidsey-X2 well, which is held under the UK Production Licence PL241.
Angus Energy managing director Paul Vonk said:"The Lidsey-X2 production well aligns with our business plan of providing long term, cost efficient, low geological risk, conventional oil production.
“We remain focused on providing value to our shareholders and look forward to re-commencing production from the Lidsey Oil Field."
In early August, the company received permission from Oil and Gas Authority (OGA) to drill and produce from the Lidsey-X2.
Before that, the company obtained the required approvals from West Sussex County Council (WSCC) and the Environmental Agency (EA).
