Xcite Energy upgrades Bentley Field Oil Reserves

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Xcite Energy upgrades Bentley Field Oil Reserves

posted on Feb 27, 2012 07:16PM

Xcite Upgrades Bentley Field's Oil Reserves

Feb 20, 2012 - Xcite Energy has upgraded its oil reserves at the Bentley field, located in the UK sector of the North Sea. TRACS International Consultancy, an independent reserves auditor, estimated that oil reserves of the type 1P, 2P and 3P for the core area of Bentley are approximately 99 million, 116 million and 140 million barrels of oil, respectively. The operator plans to begin developing the field this year, after completing "significant work" in the latter half of 2011 to prepare for the Bentley Phase 1A work program in 2012. The field development plan for Bentley, comprising of Phase 1B and Phase 2, was submitted for approval to the Department of Energy and Climate Change in the final quarter of 2011.

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