The UK and Ireland-focused oil and gas exploration, development, and production company, Europa Oil & Gas, said that the Wressle 1 well has started producing small amounts of water.
The company, which has a 30 percent interest in the well, said in a media release that the water accounted for an average of 3.72 percent of the total production fluid during July 2023. The well continues to free flow without the need for artificial lift and, as of the end of July 2023, the cumulative production from the W1 well totaled 492,876 barrels of oil, the company noted.
The Wressle oil discovery straddles PEDL180 and PEDL182. It lies 3.1 miles southeast of, and along the same structural trend as, the Europa-operated Crosby Warren field, which has been producing oil for almost 30 years. Egdon hold 30 percent interest in the well and is the operator, with Union Jack holding a 40 percent interest.
With water production starting at this late stage, Europa Oil & Gas says it provides further evidence that the expected recoverable volumes from the Ashover Grit will be at the top end of the estimates detailed in the independent Competent Person’s Report (CPR) prepared by ERC Equipoise (ERCE) in 2016. The 2016 CPR forecast gross volumes from the Ashover Grit of 2P 0.54 MMstb and 3P 1.12 MMstb.
In January 2023, Europa Oil & Gas commissioned a new CPR and the work, which is being undertaken by ERCE, continues. With the advent of water production, ERCE is revisiting the reservoir modelling and incorporating the event into the various work streams. This has delayed the completion of the report, Europa Oil & Gas said.
“The contribution of formation water has been long expected at the W1 well and we are prepared to handle the water. The size of the oil accumulation within the Ashover Grit formation is still expected to be at the top end of the original CPR estimate and I look forward to updating the market with the updated reserves once the new production data has been incorporated into the dynamic reservoir model. This will ensure that the second development well is drilled in the optimal location and that the recovery rate is maximized,” Will Holland, Chief Executive Officer of Europa, said.
The company has also recently assumed operatorship of license PEDL343, which holds the Cloughton gas discovery. Operatorship of the license was transferred from Egdon Resources to Europa Oil & Gas and approved by the North Sea Transition Authority, the industry regulator, with effect from July 27, 2023. The partners in PEDL343 are Europa (40 percent), Egdon (40 percent) and Petrichor (20 percent).
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