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Wressle - Results of Downhole Pressure Analysis
Wressle - Results of Downhole Pressure Analysis.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8821Y\n Europa Oil & Gas (Holdings) PLC\n 19 January 2022\n \n \n \n \n Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n \n \n 19 January 2022\n \n \n Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company')\n \n \n Wressle - Results of Downhole Pressure Data Analysis \n \n \n \n \n \n Europa Oil & Gas (Holdings) plc, the UK, Ireland and Morocco focused oil and gas exploration, development and production company, \n notes that the Operator, Egdon Resources U.K. Limited (\"Egdon\"), has today updated the market on the conclusions of the ERCE study following their interpretation of the downhole pressure data acquired in December 2021. \n Europa holds a 30% working interest alongside Egdon Resources (30% and Operator) and Union Jack Oil (40%).\n \n \n \n \n \n Europa is pleased to publish the highlights of ERCE's conclusions:\n \n \n \n \n \n · \n Higher rates than are currently possible could be realised if the facilities constraints on gas production can be alleviated\n \n \n · \n ERCE estimates a rate of 1,216 barrels of oil per day (\"bopd\") would be possible based on the current reservoir pressure and a flowing tubing head pressure of 400 pounds per square inch gauge (\"psig\"), whilst maintaining a flowing bottom hole pressure above the oil saturation pressure\n \n \n · \n ERCE estimates a rate of 1,543 bopd would be possible at 300 psig flowing tubing head pressure, whilst at the oil saturation pressure\n \n \n \n \n \n · \n ERCE estimates a reservoir permeability of 80 millidarcies, and the analyses also confirmed the effectiveness of the proppant squeeze in reducing the skin factor from 107 to 0.2. (The skin factor is an estimate of the impairment to flow within the reservoir caused during drilling, completion or the original testing operations.)\n \n \n Simon Oddie, CEO of Europa, said:\n \n \"This result clearly demonstrates the significant potential of the Wressle well and the rates that can be achieved from the Ashover Grit reservoir alone. The Operator is now advancing plans to allow production of the well to meet its full potential as soon as possible and also with the development of further resources in the Wingfield Flags and Penistone Flags reservoirs, which underpins our excitement on Wressle\"...