Exoma-CNOOC Exploration Campaign Proceeds with Katherine West-1 Well
|
Rigzone Staff | Monday, July 23, 2012 | 8:26 PM EST
Australia's Exoma Energy and Chinese state-owned company CNOOC continue to progress their oil and gas exploration campaign as the Galilee JV--the formal name used for Exoma and CNOOC's joint venture--starts mobilizing the EDA #1 rig to the Katherine West-1 well site on ATP 999P, Exoma's CEO Rob Cook told Rigzone in a telephone interview on Tuesday.
Katherine West-1, sited onshore in central Queensland, will be spud on Saturday, Cook said. The well will be drilled to a target depth of 3,904 feet (1,190 meters), with the Hutton sandstone at 3,717 feet (1,133 meters) as its primary target and the Adori sandstone at 3,445 feet (1,050 meters) as its secondary target, Cook added.
"Katherine West-1 could be drilled for seven days before it reaches the top of the Adori. Coring and testing will require an additional seven days," Cook remarked.
The EDA #1 rig was earlier used to drill the Sancho-1 well, Exoma said in a statement on Tuesday. Sancho-1 is also located on ATP 999P.
Sancho-1 was drilled to 4,154 feet (1,266 meters) and it encountered a 85 feet (26 meter) section of the Toolebuc Shale formation, which was similar to Exoma's pre-drill estimates, Cook said. The well's secondary targets, the Hutton sandstone and the Adori sandstone, are not present, Cook said.
Exoma has a 50-percent interest in five large exploration permits in the Galilee Basin: ATP 991P, ATP 996P, ATP 999P, ATP 1005P and ATP 1008P. These permits cover an area of approximately 10.425 square miles (27,000 square kilometers) of the Eromanga and Galilee Basins. CNOOC, under the entity, CNOOC Galilee Gas Company, is earning its 50 percent stake in five of the Galilee Basin permits by providing the initial $51 million of joint venture expenditures.
There was considerable conventional oil exploration during the 1970s and 1980s in the western part of Exoma's permit area – particularly in the area now covered by ATP 999P. This exploration effort produced a number of oil shows and minor discoveries.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
RELATED COMPANIES
MORE FROM THIS AUTHOR
Most Popular Articles
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension