Exploration business takes a bite of North Yorkshire site

EXPLORATION business Egdon Resources has acquired a bigger stake in the license for a North Yorkshire petrol site.

Egdon has bought a further 20% stake in the area, which it operates, from DESS Energy, bringing its total stake to 68%.

Named Licence PEDL068, the acquisition is located in the Cleveland Basin of North Yorkshire and contains the Kirkleatham gas field.

There is drilling planned for a side-track well to target an un-drained portion of the field.

Planning consent has recently been extended for Kirkleatham and allows for drilling and production from a further two wells at the site.

Mark Abbott, managing director of Egdon said: “This acquisition builds on our existing interest in PEDL068, adding additional resource potential to the Company at low cost and complements our pending award of surrounding licence PEDL259 in the 14th Onshore Licensing Round in what was a highly sought after region.”