Santos Spuds Corowa East-1 Well Offshore Australia

The Corowa East-1 well spudded earlier this week. The well is located in Exploration Permit WA-264-P in the Carnarvon Basin, offshore Western Australia, 1.2km to the east of the Corowa-1 oil discovery and approximately 40 km west of the Thevenard Island production facility. Corowa-1 was drilled in 2001 and tested 4,534 barrels of oil per day from an 11-meter thick sandstone with no oil-water contact intersected in the well.

Corowa East-1 is targeting an estimated Mean recoverable reserve of 7.4 million barrels of oil and a high-side potential of 17.5 million barrels. The well will be drilled to a depth of 1665 meters, which will take about 7 days including evaluation.

Following the completion of farm-in requirements, participants in the WA-264-P Joint Venture will be Santos Offshore as operator with 50%; Kufpec Australia with 33.33%; and Beach Petroleum with 16.67%.