Providence Resources confirms its 2010 drilling programme at the Singleton field, onshore UK. The Singleton field is located in the Weald Basin and currently produces c. 800 BOEPD from seven production wells. The field is operated by Providence (99.125%) with partner Noble Energy (0.8725%).

The 2010 drilling programme comprises the sidetracking of the X9 well to a new and more optimal location together with the addition of two new lateral sections to the currently producing X8x well, potentially providing c. 350 BOEPD of additional cumulative production. In addition, the new X9 sidetrack well has been designed for future acid fracture stimulation, thereby providing further incremental production potential. Providence has secured the BDF-28 drilling rig with a planned spud date during Q3 2010.

Speaking today, Tony O'Reilly, Chief Executive of Providence, said, 'Following our highly successful 2009 Singleton drilling programme, the 2010 activity is again aimed at materially increasing production rates as well as evaluating the potential of fracture stimulation and multi-lateral well technology. This drilling programme should not only boost daily production rates by over 40%, but it should also allow us to assess the impact of new production technologies at Singleton which are expected to form the cornerstone of our field redevelopment activities during the coming years.

Separately, despite recent events in the Gulf of Mexico, I can confirm that normal production rates continue from our portfolio of producing interests in that region'.

Tags: Providence Resources Plc