Senex-Beach JV Discovers New Onshore Oil Field in the Cooper Basin

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A drill stem test conducted between 5,856 to 5,879 feet (1,785 and 1,792 meters) in the Mustang-1 exploration well onshore PEL 111 flowed 45.4 degree API oil with no water.

 

The well has been cased and suspended as a future oil producer.

 

Mustang-1 is an exploration well, with a primary target in the Birkhead Formation and secondary targets in the Namur Sandstone, Hutton Sandstone and the Poolowanna Formation, according a statement issued by Senex on July 4, 2012.

 

"Senex Energy and Beach Energy are planning to drill more appraisal and development wells in Mustang to build an estimate of the reservoir," a spokesperson with Beach told Rigzone. 

 

Ensign 48, the rig that was used in the drilling of Mustang-1, will be moved to the Tomcat-1 exploration well sited around 1.2 miles (2 kilometers) to the northeast of Mustang-1. The use of Ensign 48 for the drilling of Tomcat-1 needs approval from the Senex-Beach joint venture. Tomcat-1 is also sited in PEL 111. 

 

Senex holds a 60 percent operating interest in PEL 111, while Beach holds the remaining 40 percent interest. Both of the companies are listed on the Australian Securities Exchange. 

 

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