The oil field is located in the Weald Basin and currently produces approximately 800boepd from seven production wells.
The drilling program comprises the sidetracking of the X9 well to a new location together with the addition of two new lateral sections to the currently producing X8x well, potentially providing approximately 350boepd of additional cumulative production.
In addition, the new X9 sidetrack well has been designed for future acid fracture stimulation, thereby providing further incremental production potential.
Providence Resources chief executive Tony O’Reilly said that following the company’s successful drilling program in 2009, these wells are again aimed at materially increasing production rates as well as evaluating the potential of fracture stimulation and multi-lateral well technology.
