Egdon Resources reported the start of drilling operations at the Keddington oil field in Lincolnshire License PEDL005.
Egdon holds a 75% interest in and is operator of the PEDL005(Remainder) license. The joint venture partners are Terrain Energy, which holds a 15% interest and Alba Resources, a wholly owned subsidiary of Nautical Petroleum, which holds a 10% interest.
The Keddington-3 well will be drilled as a re-entry and horizontal sidetrack from the Keddington-2y "donor" well which was drilled by Roc Oil in 2000. The well has been contributing 25-30 bopd to field production since being recompleted for pumped production by Egdon in early 2009. However, well productivity has been restricted since the well was drilled, by the presence of a drilling assembly stuck in the open hole just below the existing casing and perforations. It is intended to significantly increase field production and hence profitability by drilling the Keddington-3 sidetrack which is planned to penetrate approximately 500 meters of new horizontal section largely in the oil productive Unit 1 Sandstone.
The British Drilling and Freezing Limited BDF28 drilling unit began mobilizing to site on March 29th and operations began on Thursday April 1. The plugging-back of the existing well has now been completed and the drilling of the sidetrack commenced at 20.00 hours on April 6th from a kick-off depth of 2250 meters. The well is intended to be drilled directionally to a total measured depth of 2850 meters. Drilling and completion operations are expected to last a total of around three weeks.
The well is expected to be completed for pumped production using the existing surface production facilities shortly after the rig is released from site.
Production from the adjacent Keddington-1z well has been suspended for safety reasons during the drilling operations and will resume once the rig has been demobilized from site.
The commencement of drilling operations at Keddington also triggers a payment of approx. $76,000 from Terrain as the final part of the consideration for the acquisition of its interest in the license.
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