Beach-Icon JV Speeds Up Onshore Gas Exploration Plan at ATP 855P
by Quintella Koh
Monday, July 16, 2012
Beach Energy and Icon Energy will start an unconventional gas exploration program in the Cooper Basin onshore Queensland this month, a company spokesperson with Beach told Rigzone.
The joint venture will drill a vertical exploration well, Halifax-1, in the ATP 855P permit, Beach said in a statement. The pair had originally planned for Halifax to be a horizontal well with drilling intended for September.
The project was however moved forward as both of the companies are keen to leverage off Beach's success in PEL 218 , where two vertical wells – Encounter-1 and Holdfast-1 – have both flowed around 2 million cubic feet of gas per day testing.
"The well will be drilled to a depth of 13,123 feet (4 kilometers)," the spokesperson revealed. "We will require eight weeks to complete drilling [Halifax-1] as the well needs to be extensively cored," the spokesperson added.
Under normal circumstances, most companies take around six weeks to complete drilling an exploration well of similar depth.
Halifax-1, located 7.5 miles (12 kilometers) east of Encounter-1, will be cored to evaluate the whole Permian section down to the base of the Patchawarra formation. The well will be fracture stimulated and flow tested through multiple zones, with a material contingent resource expected to be booked. In addition, Halifax-1 will be used for micro-seismic monitoring of a future horizontal well.
The Ensign 916 rig, currently working for Beach in PEL 218, will be moved to the Halifax area after casing the Streaky-1 well.
"We have not decided where to next deploy the rig after Halifax-1," the spokesperson said.
Icon holds a 40 percent stake in the permit, while Beach has a 60 percent operating interest. Both of the companies are listed in Australia.
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