Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Egdon Resources purchases Lincolnshire field

Egdon Resources news
Egdon Resources news

Egdon Resources has purchased a 100% interest in the Fiskerton Airfield oil field in Lincolnshire.

The acquisition will be made for a total cash consideration of $750,000, with the effective date of the acquisition 1 January this year.

Egdon Resources managing director Mark Abbott said: “We are pleased to acquire the Fiskerton Airfield oil field for a modest cash outlay.

“The field has suffered from a lack of investment over recent years and we plan to undertake simple low-cost workovers to enhance production and profitability in the short-term, adding valuable near-term cash-flow to Egdon’s portfolio.

“In the longer term, we will investigate the potential to enhance productivity through in-fill drilling.”

The field currently produces 19 barrels of oil per day (bopd) from one of two production wells.

The second production well is currently shut-in awaiting a workover.

Egdon hopes to increase cash flow and profitability at the site by increasing production to between 20 and 40 bopd through well-interventions.

Completion of the acquisition is subject to OGA approval.

The Fiskerton Airfield oil field was discovered in 1997, and cumulative production has totalled about 440,000 barrels.

Egdon estimates that over 100,000 barrels of oil are recoverable from the existing wells.

Recommended for you

More from Energy Voice

Latest Posts