Karoon Reports Proteus-1 ST2 Well Successfullly Flow Condensate Bearing Gas

Karoon Gas Australia Ltd. announced Tuesday that the Proteus-1 ST2 well in Permit WA-398-P in the Browse Basin, 218 miles offshore from the north-western Australia coast, has successfully flowed condensate bearing gas.

Proteus‐1ST2 Test Results

The Proteus‐1ST2 exploration well, located within the Browse Basin has been production tested following the confirmation of a gas discovery Aug. 30.

The successful flow test of the Proteus‐1ST2 well has produced a strong flow of condensate bearing gas with a maximum flow rate of 7.3 million standard cubic feet per day (MMscf/d) measured through a 16/64 inch choke with a flowing well head pressure of 4,457 pounds per square inch (psi).

The test was conducted in 4.125 inch diameter wellbore over the entire open hole section between 4,920‐5,250 mRT in Jurassic aged rocks of the Plover and Montara Formations. In order to maintain hole stability, flow rates were constrained and initial analysis indicates that significantly higher flow rates would be achieved with appropriate infrastructure in place.

A Condensate‐Gas Ratio in the range of approximately 19‐22 barrel/MMscf was measured at surface. The measured condensate ratio is the highest yet recorded from the Poseidon project exploration campaign and 10‐20 percent higher than the ratio measured in the Boreas‐1 well.

The gas also contained approximately 12 percent carbon dioxide (CO2), near the lower concentration levels found to date in the Greater Poseidon Area.

At 06:00 hrs WST today the test string was being pulled from the hole. Since the last progress update the wireline logging program was completed prior to installing well testing equipment. Wireline logging was successful in acquiring a high quality dataset for ongoing field studies.


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