.
Latest News

Angus Energy To Resume Conventional Production From Brockham & Lidsey Oil Fields

Angus Energy Plc, a conventional oil and gas production and development company, is pleased to announce that it will resume conventional production from two currently temporarily suspended wells in its portfolio. 

The Company will re-commence production from the Portland Resevoir via the BR-X2Y well at Brockham in March, as well as the Great Oolite Resevoir at Lidsey from the Lidsey-X1 well this February. This, combined with existing production from the Lidsey-X2 well and expected production from the Brockham BR-X4Z well (see below), is expected to give the Company a total of four wells in production in Q1 2018. 

These operations reflect improved market conditions and an increase in oil pricing and will enhance the Company's financial flexibility. Prior to their temporary closure, the BR-X2Y and Lidsey-X1 wells had normative operations at approximately 50bbl/day combined.  

 

Brockham BR-X4Z

Further to the Company RNS 23 October 2017, the installation of a connection to the National Grid for selling on-site power generated from associated gas production is in progress, contracts have been executed with a scheduled completion in March 2018. Prior Company guidance for the beginning of production from BR-X4Z is unchanged.

 

Lidsey-X2

Subsequent to the Company RNS 20 November 2017, the Company has completed its review of initial flow rates from Lidsey-X2.  The  installation of a new pump to optimise pressure differentials and maximize production flow rates will be completed in February 2018.

 

All the aforementioned operations are performed through conventional production. There will be no hydraulic fracturing or "fracking".

Open an Account

If you are interested in opening an account with Optiva Securities, please fill in the details on the apply button.


APPLY NOW