ANGUS ENERGY BRINGS LIDSEY-X2 ON STREAM
Angus Energy Plc, a conventional oil and gas production and development company, has commenced production at Lidsey Oil Field from the well, Lidsey-X2. Following 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. Compared to pre-drill assessments of the 7 November 2016.
The Company is conducting further analysis and if confirmed, the Company will undertake operations to repair the tubing which will allow maximum draw from the reservoir. This is the priority for the Company over the coming weeks. In addition to any necessary repair, industry information and technical guidance on analogous wells in the region suggest initial flow rates can be improved. Angus Energy believes its initial flow rates from LidseyX2 have similar potential for increased yield. Therefore, the Company is conducting a thorough study to optimise and enhance production levels from the Great Oolite.
The Lidsey-X1 well, first drilled in 1987, will now resume production from the Great Oolite reservoir in addition to production from Lidsey-X2. The Company expects to achieve the historic production levels of 15-20 barrels of oil per day before the well was shut in nearly 2 years ago in January 2016. (Source: Angus Energy)