Bridge Energy announces new discoveries among positive Q4 trading update.

Thursday 28 February 2013

Bridge Energy has published a positive quarterly report for Q4 last year, in what chief executive Tom Reynolds called a “transformational period” for the company.

The firm, which has assets in both the UK and Norway, announced a production average of 863 barrels of oil equivalent per day (boe/d) from its Victoria, Duart and Boa fields.

Three commercial oil wells were discovered from four exploration wells drilled, including the Contender Well in the UK North Sea.

Renamed the Cormorant East Field, production began at the site in January this year, just 85 days after discovery.

Two further wells are currently planned and funded for 2013, the first of which is expected to spud in the autumn. Another two are expected to begin operations next year.

Continued developments in the North Sea bring better opportunities for contractors in the oil and gas sector, whose skills continue to be in demand in the Northern North Sea region, as well as further down the east coast of England

By Victoria McDonnell

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