RE: Better trade14 Jul 2023 07:14
GoodByeMyLover
You wouldn't know what market abuse was if it jumped up and bit you on the bum.
The Avington field last reported oil production volumes in December 2017. The first official monthly production figure was recorded in January 2009.
Between those dates, total oil production was reported to be 36,378m3 or 30,691 tonnes, nearly 229,000 barrels. The average extraction rate when the field was producing was 336 barrels a day.
Previous oil extraction at Avington was often accompanied by large volumes of produced or formation water. At times, the water cut (the proportion of water in total liquid produced) was more than 90%.
UKOG’s website said the field has a total of five wells and sidetracks. Oil and produced water was previously taken by tanker to the nearby Stockbridge field, also in Hampshire.
UKOG said today there was an estimated 59 million barrels of oil in place at Avington.
It said the operator, recently renamed Star Energy, would carry out a workover of the Avington-3z well. This was the field’s best performer, accounting for 81% of the produced oil, UKOG said. It added:
“Given the 5-year shut-in period, which potentially has permitted reservoir pressure around the well to build up, some element of “flush” production (i.e., higher than the flow rate prior to shut-in) is expected upon production restart.”
Analysis of Avington’s production data shows that the volume of oil was below 500m3 for all but seven of the 172 months. In July 2015, the field more than trebled the average daily production rate before returning to normal levels in the following month.
Full story here;
https://drillordrop.com/2023/07/13/south-downs-oil-field-to-restart-production/
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