The ATP 299P joint venture – a partnership between Drillsearch Energy and Santos – has spud the Olive Oyl-1 exploration well as part of an eight-well optimization and recompletion program at the onshore Tintaburra block.
Olive Oyl-1 is the first well that the JV is drilling in the program, a spokesperson with Drillsearch told Rigzone on Monday.
The well, drilled as a conventional vertical well, will test a new play fairway targeting oil migration into the shallow faulted Wyandra sandstone prospect, Drillsearch said in a statement. Olive Oyl-1 will also target oil pay zone potential within the deeper Murta Member.
"The JV is targeting to complete drilling Olive Oyl-1 in ten to 14 days," the spokesperson added.
Drillsearch added in its statement that if the well is successful, it will be completed as an oil producer on a beam-pump artificial lift and be connected to the existing Kooroopa North oil facility, from where crude is trucked to the central Tintaburra Block oil production facility before being piped to Moomba.
The rig used in this drilling project is the Saxon 184, said the spokesperson.
The block, located in the Eromanga Basin southwest of Queensland, occupies an area of 1,362 square miles (3,592 square kilometers). There are 15 producing oilfields on the block, and oil is predominantly produced from the Wyandra/Murta Formation, the Jurassic Birkhead Formation and the Hutton Sandstone.
Santos is the operator of the block with an 89 percent interest. The remaining 11 percent interest is held by Drillsearch.
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