Licence PEDL005 (remainder)

Licence PEDL005 Keddington Rig Backlit.jpg

 

Keddington oil field, North Somercotes prospect & Louth prospect (part)

  • Licence PEDL005 (remainder) is located in Lincolnshire in the East Midlands Petroleum Province
  • Contains the Keddington oil field which produces from Carboniferous sandstone reservoir at a depth of 2,200 metres
  • Two wells, Keddington 3z and 4z, producing c.34 bopd and 50,000 scf of gas/day
  • In July 2015 Terrain signed a farm-in agreement with Egdon Resources in relation to the Keddington oil field. Under the terms of this agreement, Terrain earned an additional 20% of the field (resulting in a total equity interest of 35% post farm-in) in return for paying an additional 40% of the cost of a new appraisal/development well which was drilled in Q1 2016 as a side-track to the Keddington-4 well. Terrain retains a 15% interest in the rest of the licence that does not contain the Keddington oil field
  • The Keddington-5 sidetrack, targeting conventional hydrocarbons, was drilled in January 2016 and reached a total depth of 2,433 metres. During the course of drilling, elevated gas readings (indicative of the presence of hydrocarbons) were recorded from a gross interval of 141 metres, containing 62 metres of net sand. However, the well did not produce commercial quantities of oil when on test
  • North Somercotes Prospect – 3D defined prospect to the north of the Saltfleetby gas field – c.6-10 bcf Gross Prospective Resources

Licence PEDL005 (remainder)

  1. Egdon Resources (Operator) - 65%
  2. Terrain Energy - 15%
  3. Cairn Energy - 10%
  4. Union Jack Oil – 10%

 

Keddington oil field

  1. Egdon Resources (Operator) - 45%
  2. Terrain Energy - 35%
  3. Cairn Energy - 10%
  4. Union Jack Oil – 10%

Terrain Energy

Terrain Energy is developing a portfolio of oil and gas interests based in politically stable countries, with its current focus on the UK. Terrain Energy is seeking to further develop its balanced portfolio of interests with the emphasis on production orientated assets.

Latest News

January 2017
The Whisby-6 well was successfully drilled in 2016 and encountered a good oil-saturated basal sandstone with initial production of 168 barrels of oil per day.....
[ full story ]

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