Oil exploration company Providence Resources says it has successfully completed drilling operations on its development well at its Singleton Field in the UK.
Initial findings from the well show better results than had been anticipated. However, Providence said it needs to bring the well into production before it can confirm whether the flow rates will exceed pre-drill predictions.
'We are particularly pleased with this well as it represents the first major activity in our field re-development programme at Singleton and it gives us even greater confidence for future field development with the resultant potential for further production increases,' commented Providence's CEO Tony O'Reilly.
The oil field is now being completed for production and will be brought on-stream over the next four to six weeks. Providence wants to raise output from Singleton to about 1,000 boepd from 700 over the short-term.
