Drillsearch Energy and Beach Energy have extended the onshore Bauer oil field through drilling the Bauer-5 well in PEL 91, the companies said in separate statements issued on Monday.
Bauer-5 is part of a program known as the PEL 91 joint venture, an ambitious 12-well drilling program fronted by the Drillsearch-Beach JV, which involves drilling seven appraisal and development wells and five exploration wells on the onshore Bauer oil field in the Cooper Basin.
The program officially kicked off on July 11, 2012, when Bauer-5 was spudded.
The Drillsearch-Beach JV said on Monday that Bauer-5 intersected the primary Namur target, just over 3.3 feet (one meter) high to prognosis, in an excellent quality reservoir. This resulted in 20 feet (6 meters) of net oil pay and confirms the extension of the mapped Namur accumulation to the north east of the Bauer oil field. Flow rates are expected to be in line with those of previously completed wells, with the impact on reserves to be confirmed by further appraisal drilling.
The Bauer oil field contains four production wells - Bauer-1 to 4. Oil is being produced from the Bauer-1 to 3 production wells at a consistent rate of 800 barrels of oil per day (bopd) to 1,200 bopd, Drillsearch's managing director Brad Lingo told Rigzone in a telephone interview on Monday.
The secondary target of the Bauer-5 well, the Birkhead formation, encountered a 160-feet (5-meter) oil column. The interval was drill stem tested, with 48.3 degree API light, sweet crude coming to surface after 28 minutes at 1,160 bopd.
Lingo described the results as a "very pleasant surprise." "The results were much better than our pre-drilled estimates," Lingo remarked.
The Drillsearch-Beach JV said that due to the stratigraphic nature of Birkhead accumulations, it will be difficult to estimate the additional mean recoverable barrels from Bauer-5.
"The Birkhead shale systems are very hard to image," Drillsearch managing director Brad Lingo explained.
Bauer-5 has been cased and suspended as a future oil producer.
The Ensign 930 rig, which was being used to drill Bauer-5, is being moved to the Bauer-7 development well, Lingo said. Bauer-7 is sited approximately one kilometer to the southwest of Bauer-5.
The Drillsearch-Beach JV aims to spud the Bauer-7 well at the end of this week. Bauer-7 will take ten to 14 days to drill. After drilling Bauer-7, Ensign 930 will be moved to drill the Bauer-6 well.
Both of the wells are also targeting the Birkhead accumulations, Lingo said.
PEL 91 is sited on the western margin of the Cooper-Eromanga Basin in South Australia. The license occupies an area of 761 square miles (1,972 square kilometers), data from Beach's report on the block shows. Drillsearch owns a 60 percent working interest in PEL 91. Beach is the operator and it owns the remaining 40 percent working interest. Both of the companies are listed in Australia.
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