Cooper Basin Assessment Results Announced by Beach Energy
Drilling Activity Details
Australia
Drilling Activity Summary
Description
After completing vertical shale gas wells #1 Holdfast and #1-Encounter, a Beach Energy internal assessment of the Cooper Basin resource potential indicated an initial gross contingent resource of 2 trillion cu. ft. of sales gas in the two fields. The resource area is in PEL 218 but the resource booking is constrained to a 100 sq. kilometer area where the evaluation wells were completed. Data collected to date indicate the shales are continuous across the PEL 218 acreage. According to Oil and Gas International, the resource booking equates to more than 330 million bbl. of oil equivalent. The calculation of the shale resource is based on observed flows, following successful fracture stimulation and continued flow testing at #1-Holdfast, and takes into account the main shale and mixed lithology formation target zones (the Roseneath shale, Epsilon, Murteree shale, and the top section of the Patchawarra. Beach is the operator of the PEL218 permit and #1-Holdfast and #1-Encounter with 90% interest in partnership with Adelaide Energy, holding the remaining 10%. Beach Energy is based in Adelaide, South Australia.
After completing vertical shale gas wells #1 Holdfast and #1-Encounter, a Beach Energy internal assessment of the Cooper Basin resource potential indicated an initial gross contingent resource of 2 trillion cu. ft. of sales gas in the two fields. The resource area is in PEL 218 but the resource booking is constrained to a 100 sq. kilometer area where the evaluation wells were completed. Data collected to date indicate the shales are continuous across the PEL 218 acreage. According to Oil and Gas International, the resource booking equates to more than 330 million bbl. of oil equivalent. The calculation of the shale resource is based on observed flows, following successful fracture stimulation and continued flow testing at #1-Holdfast, and takes into account the main shale and mixed lithology formation target zones (the Roseneath shale, Epsilon, Murteree shale, and the top section of the Patchawarra. Beach is the operator of the PEL218 permit and #1-Holdfast and #1-Encounter with 90% interest in partnership with Adelaide Energy, holding the remaining 10%. Beach Energy is based in Adelaide, South Australia.