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Providence UK well starts producing

Providence Resources - Singleton well in line with expectations
Providence Resources - Singleton well in line with expectations

Exploration company Providence Resources this morning confirmed that its Singleton X11 development well has started production.

The Singleton field is in the south of England and Providence holds a stake of just over 99% of the site.

Providence said the initial rate of oil and gas production was in line with expectations. The company also said an updated audit of the field's oil reserves had indicated that they were more than 40% higher than previously estimated.