Proactive Investors - Europa Oil & Gas Holdings (LON:EOG) has described a new uplift in production at the Wressle field as “very encouraging”.
Wressle has in recent days received regulatory approval allowing higher volumes of fluid to be handled at surface and at nearby water disposal facilities. It effectively opens upside to production flows, which have been pegged to an average of 550 barrels of oil per day (bopd).
Consequently, the company said that from 14 December the surface pump has been incrementally increased – first to 670 bopd, then to 674 bopd on 17 December.
On-site, upgrade initiatives are ongoing.
“It is good to see the well responding so well to the increased pump rate,” said chief executive Will Holland.
He added: “I believe that the W1 well has the potential to deliver stable production at materially higher levels than the 550 bopd level we were producing at and the current rate of 680 bopd is very encouraging.
“There will now follow a period where the well will be monitored closely and the pump rate may be further increased as our engineers optimise the well performance to maximise oil recovery and value.
“I look forward to updating the market with the resulting revised stable oil production rate once this has been achieved."