Lakes Oil conducted drillstem test #2 on the Moreys-1 well in the Otway Basin, Australia, over an interval in the Eumeralla formation between 1,986 m (6,514 ft) and 1,996 m (6,546 ft) that flowed gas to surface before fading out. In addition, upon reverse circulation, condensate was recovered and is currently being sent for analysis.
Multiple tight gas sands were encountered in the well throughout the Eumeralla formation, with the best zone being the interval between 1,986 m (6,514 ft) and 1,996 m (6,546 ft).
Lakes and Armour Energy Ltd. will now re-evaluate this permit to assess its potential for tight gas in the Eumeralla formation as well as the Waarre sandstone.
The Moreys-1 well is being funded by Armour to a cost of $2.5 million to earn a 51% interest in Exploration Permit 169.
Recommended Reading
Exclusive: Kimmeridge’s Dell on Advancing Commonwealth LNG Amid DOE Pause
2024-09-27 - Kimmeridge’s Co-founder and Managing Partner Ben Dell details how Commonwealth LNG came to be and the future of the project as the company is optimistic on an FID in the first half of 2025, in this Hart Energy Exclusive interview.
Elliott-backed Amber Energy Picked to Buy Citgo Petroleum for $7.3B
2024-09-27 - Amber Energy, led by industry veterans Gregory Goff and Jeff Stevens, was selected by a court-appointed special master to buy Citgo Petroleum, which is held by a Venezuelan company, for $7.286 billion.
Dividends Declared Sept.16 through Sept. 26
2024-09-27 - Here is a compilation of dividends declared from select upstream, midstream and service and supply companies.
Gulf Coast Midstream Sets Open Season for Natgas Storage Facility
2024-09-27 - Gulf Coast Midstream Partners, which aims to build the first salt cavern natural gas facility in the Houston area since 2008, will launch a non-binding open season on Oct. 1.
CNOOC Brings Online Phase 2 of Natgas Project in South China Sea
2024-09-27 - CNOOC’s Shenhai-1Natural Gas Development Project is expected to reach peak production in 2025.