No Gas, Oil In Highly Anticipated Sasanof Well Off Australia

No Gas, Oil In Highly Anticipated Sasanof Well Off Australia
Western Gas hasn't found any commercial hydrocarbons in its highly anticipated exploration Sasanof-1 well located offshore Australia.

Australia’s Western Gas hasn’t found any commercial hydrocarbons in its highly anticipated exploration Sasanof-1 well located offshore Australia.

The Sasanof-1 exploration well is in exploration permit WA-519-P, in Commonwealth waters approximately 130 miles northwest of Onslow Western Australia.

Western Gas is the operator of this prospect with a 52.5 percent interest and its partners are Global Oil and Gas with a 25 percent, and Prominence Energy with a 12.5 percent. The remaining 10 percent interest was acquired by Clontarf Energy in May, just before the drilling of Sasanof began.

The Valaris MS-1 rig spud the well in late May and drilling through the target reservoir section happened over the weekend.

Prominence Energy, Western Gas’ partner, said that the Sasanof-1 exploration well was drilled to a total depth of 7,840 feet RMDT by the Valaris MS-1 rig without incident.

The company added that no commercial hydrocarbons were intersected and that the well would now be plugged and permanently abandoned. Rig de-mobilization activities will begin after that.

“We are obviously disappointed with the result of the well but would like to thank our shareholders for their support, and to commend Western Gas and all the service providers that have enabled the drilling of this well,” Alex Parks, Managing Director of Prominence Energy, said.

The company added that further updates would be provided upon the completion of campaign milestones.

The well was Western Gas’ first well drilled from its extensive exploration portfolio surrounding the existing Equus Gas Project that contains a discovered resource of 2 Tcf and 42 MMbbl. The Equus Gas Project has a historic exploration drilling success rate of 88 percent, with 15 discoveries from 17 wells. Regardless of such a success rate, Sasanof had no such luck.

It is worth reminding that IHS Markit released a report in January 2022 on the contribution of high-impact wells in 2021 to global gas resources, with an expectation that high-impact exploration drilling in 2022 will continue to have a global impact.

IHS Markit noted the Sasanof prospect would be one of only two high-impact wells in the Asia Pacific region of the 20 global high-impact wells planned to be drilled in 2022.

UK-headquartered energy consultancy ERCE estimated that the Sasanof prospect to contain a 2U Prospective Resource of 7.2 Tcf of gas and 176 million bbls condensate, with a high case 3U Prospective Resource estimate of 17.8 Tcf gas and 449 million bbls condensate.

To contact the author, email bojan.lepic@rigzone.com


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