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Union Jack Oil expects first oil from Wressle in 2H20

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Oilfield Technology,

Union Jack Oil has announced that the Wressle oil discovery in Lincolnshire, UK, is due to produce first commercial oil during 2H20, where it is expected to flow at a constrained rate of 500 bpd gross.

Furthermore, Union Jack Oil is pleased to report that the that a gross sum of £403 000 has been received by the JOA Partners from the North Lincolnshire Council (NLC). These monies will be divided between the partners, proportionate to their interests.

Following NLC approval of the installation plan and discharge of the associated planning condition, the company has now completed the installation of four groundwater monitoring boreholes on the Wressle site.

David Bramhill, Executive Chairman of Union Jack commented: “Excellent progress is being made in respect of the development process at Wressle leading to “first oil”, expected during 2H20. The project remains economically robust with an estimated break-even oil price of US$17.62 per barrel.”

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