Partners Fail to Find Hydrocarbons at Baikal #1 Well in SA's Cooper Basin
Holloman Energy Corp. disclosed Wednesday that the drilling of the Baikal #1 well in Petroleum Exploration License (PEL) 444 in South Australia's Cooper Basin went smoothly without any incidents, environmental issues or significant delays.
The well was drilled to a depth of 7,138 feet (2,176 meters), on time and under budget. As no hydrocarbon shows were found, Holloman Energy Corporation agreed to plug and abandon the well. The management of the Joint Venture partners plans to hold discussions in the upcoming weeks to determine the next steps to take pertaining to the Company's Petroleum Exploration Licenses in Australia.
About Holloman Energy
Holloman is focused on exploring and producing oil in Australia's Cooper Basin. Holloman's Cooper Basin licenses include interests in PEL 112 and PEL 444 which currently comprise approximately 850,000 gross acres, 314,000 net acres (3,444 square kilometers) on the prolific Western Margin of Australia's Cooper - Eromanga Basin.
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.
- Oil Inventories Down to Dangerously Low Point
- Shots Fired During Tanker Loading
- What is the Chance of NOPEC Succeeding?
- Centrica Set to Storm Into FTSE 100
- USA Fuelmakers Shifting Into Higher Gear
- Geothermal Study Examines Repurposing Offshore Oil Wells
- Wintershall Dea Sells Interest in Brage Field
- Kinetik Opts for Stock Split To Boost Liquidity
- UK Petrol Pump Prices Soar to Record High
- BND Board of Commissioners Unanimously Picks Esteban Guerra as Chairman
- Russian Oil Producers Start Using Tankers the World Did Not Want
- ADNOC Announces 650MM Barrel Oil Find
- Finland Loses Main Gas Supply
- Brent-WTI Oil Price Spread Inverts
- ExxonMobil Selling Shale Assets for $750MM
- USA Oil and Gas Employment Set to Rebound
- China in Talks With Russia to Buy Oil for Reserves
- Oil Inventories Down to Dangerously Low Point
- First-Ever 8th Generation Drillship Named In Singapore
- 6 Power Generating Facilities in Texas Just Tripped
- Russian Oil Producers Start Using Tankers the World Did Not Want
- ADNOC Announces 650MM Barrel Oil Find
- Finland Loses Main Gas Supply
- Ban on Excessive Gasoline Prices Heading for Vote
- This Is Where the Oil Price Would Be Without the War
- Oil and Gas Discovery Confirmed at Hamlet
- Top Headlines: Be Prepared to Pay More at the Pump from June
- Gas Prices Could Rocket in the Near Term
- Exxon Does It Again - Three More Discoveries Offshore Guyana
- Top Headlines: Gas Prices Could Rocket in Near Term and More