Angus energy plc reported a “substantial” increase in production, after completing coil tubing operations on Saltfleetby-B7 and B2 wells, at the gas field on the Lincolnshire coast.
DEBT
The company recorded average daily production of approximately 6.3 million standard cubic feet per day, over last week, which is around a 30% increase on Q4 2025 average daily production.
“The programme included perforation of a sections of the tubing, and cleaning and stimulation of the wells using an acid and mutual solvent treatment,” said Angus.
“The wells are currently in the flowback phase, with gas, condensate and water returning to the production facility as expected.
“Operations were completed safely and without HSE incident, and all third-party contractors and equipment have now been demobilised.
“As previously indicated, the wells require a period of clean-up following the workover and well performance will continue to be monitored over the coming months, but the company is delighted with the initial results.”
Angus also continues “positive” discussions with its creditors on debt restructuring, although its future remains uncertain until a “suitable” agreement is reached.
The company’s shares also remain suspended from trading until the financial restructuring is completed.
BALCOMBE
Elsewhere on its portfolio, Angus said it intended to resubmit its planning application for the Balcombe well site, 8km southeast of Crawley in West Sussex.
The company was previously testing the commercial prospects of the Kimmeridge reservoir.