Angus Energy (AIM: ANGS) report the successful commissioning of the newly drilled B7T sidetrack well at the Saltfleetby Field earlier today.
A temporary flowline connects the well to the Saltfleetby site’s production facilities, and processed gas is now being supplied to the National Grid. Currently, the well is producing around 4 mmscfd, while the B2 well is generating 2 mmscfd. Both wells’ flow rates are purposefully limited to allow co-production within the single compressor’s capacity.
The A4 well has been temporarily suspended to balance the pressure and flow rates of the other two wells.
This operational mode will continue while the new well is monitored and production stabilizes. The plan is to transition to dual compressor operations and reintroduce the A4 well into production on or shortly after May 10th. During April, the A4 well produced over 2 mmscfd and the B2 well over 3 mmscfd, resulting in an average monthly production of 5.3 mmscfd. We anticipate providing a report on combined flow rates for all three wells and both compressors later this month.
Utilizing a temporary flowline and additional separation enables the ongoing well clean-up while preventing unnecessary gas flaring. The B7T well’s performance is projected to improve with ongoing production. Construction of a permanent flowline is set to begin this month and is expected to be completed by late summer.
As production nears a stable plateau, Angus management can now allocate time and resources to monetizing other oil assets, developing long-term transition storage capacity at Saltfleetby, advancing the geothermal program, and exploring additional strategic opportunities.
