Providence Resources has started drilling operations on a development well at its Singleton Field in the Weald Basin, off the coast of Britain.
The new well will be drilled to a total of 14,000 feet and the operation is expected to take up to 45 days.
Providence holds a 99.125% interest and operates the Singleton Field, with Noble Energy holding the remaining stake.
Last year, Providence commissioned a number of internal and third party studies to assess the redevelopment potential and ultimate resource base of the Singleton Field. The company said that these studies confirm that increased recovery rates are possible.
'This new development well is the first major activity in our field re-development programme at Singleton,' commented Providence's CEO Tony O'Reilly.
'Pre-drilling modelling suggests a potential production uplift of some 30%, which can be brought on line immediately,' he added.
