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Angus Energy Commences Production from Lidsey-X2
Angus Energy Commences Production from Lidsey-X2.
About this update from Angus Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7727W Angus Energy PLC 17 November 2017 \n\n 17 November 2017\n \n \nAngus Energy Plc\n(\"Angus Energy\" or the \"Company\")\n \n \nAngus Energy Commences Production from Lidsey-X2\n \n \nAngus Energy Plc, a conventional oil and gas production and development company, is pleased to announce it has commenced production at Lidsey Oil Field from the well, Lidsey-X2. \n \nFollowing the drilling and completion of the Lidsey-X2 horizontal production well, which was drilled on time and within budget, the Company is working through the production start-up and production has now been initiated. Initial start-up rates of production from the Great Oolite reservoir are coming in at forty barrels of 38.5 API of dry oil per day. The fluid column (oil) extends to 322m from surface (bottom hole depth of 1,009.3m) with a measured static bottom hole pressure of 764 psi. The Great Oolite is the first of three reservoirs with potential viability in Lidsey-X2 as per the Company RNS of 6 November 2017. \n \nCompared to pre-drill assessments set forth in the Competent Person's Report (\"CPR\") of the 7 November 2016 Admission Document, flow rates from the Great Oolite reservoir are below expectations, and work is continuing to clean up the well. The Company is investigating the new geological and borehole information to update its understanding of the reservoir. In addition, the Company is currently examining evidence that suggests a partial flow reduction is the result of a hole in the production tubing, therefore not allowing the well to be fully drawn down. The Company is conducting further analysis and if confirmed, the Company will undertake operations to repair the tubing which will allow maximum draw fro...