Waltersmith completes phase 2 of drilling campaign.

December 11, 2012 - Less than a minute read

The Board and Management of Waltersmith are happy to announce the completion of the second phase of the drilling campaign and the development of the Ibigwe field.


The first phase was concluded in 2009 with the completion of IB 4 and IB 5 and the ramping up of production by a further 1,200 barrels to 2, 200 barrels. The second phase which commenced in 2011 culminated in the successful completion of IB 6 and IB 8 as gas and oil wells.

Subsequently, production has ramped up to circa 4, 500 bopd.