The company said that the well has been producing oil since June 7, 2010. Oil production for the first seven days was 1855 barrels at an average rate of 265 barrels of oil per day. The well is also producing significant quantities of gas with the daily rate being over 500,000 cubic feet of gas per day.
The well is also producing significant quantities of gas with the daily rate being over 500,000 cubic feet of gas per day. The currently observed production represents over a ten fold increase in daily oil volume and a five fold increase in gas volume from the Keddington-2z donor well, according to the company.
The company added that the flow from the well is currently being restricted to manage the gas flows and pressures in the surface facilities. The flowing pressure at the well head has been steady at around 69 bar.
Egdon is now looking to resurrect plans for on-site electricity generation with a view to developing an additional revenue stream and utilizing the produced gas.
Egdon is the operator of the Keddington oil field with a 75% interest. Egdon’s joint venture partners are Terrain Energy (15%) and Alba Resource, a wholly-owned subsidiary of Nautical Petroleum (10%).
