New Epsilon well producing in line with Energean's expectations

Mediterranean-focussed oil and gas producer Energean Oil and Gas announced the successful completion of drilling operations of the extended reach well EA-H3 on Monday.

The FTSE 250 company said the well was brought into production on 1 April, and was currently producing at a stable dry oil rate of more than 1,000 barrels of oil per day on a restricted choke.

It said the well was drilled to a total measured depth of 5,679 metres, and had penetrated 689 metres of the Epsilon sandstone reservoir, in line with its pre-drill expectations.

“Energean will continue to monitor and fine-tune production parameters to ensure optimal production from the well,” the board said in its statement.

The EA-H3 well was drilled using the company-owned drilling rig, the 'Energean Force'.