Beach-Icon JV Speeds Up Onshore Gas Exploration Plan at ATP 855P
|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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