This is the first of two unconventional gas exploration wells operated by Senex to be drilled using the 1500 HP Weatherford Rig 826.
Senex Energy Limited and joint venture partner and Operator QGC – a BG Group business have commenced an 11 well CBM appraisal program in the eastern Surat Basin in Queensland in permits PL 171 (Senex 20%) and ATP 574P (Senex 30%).
Norwest is now preparing for Stage 2 of the hydraulic fracture stimulation program - the Irwin River Coal Measures (IRCM) target.
Drilling of the horizontal sidetrack is underway and is expected to reach up to 1,000 metres in approximately three weeks.
The company secured A$5 million in interim funding to enable it to progress with its exploration commitments and pursue near term growth opportunities.
Settlement of the transaction is expected to occur thirty days after the later of the FIRB and NDRC conditions being satisfied.
The survey will identify potential multi-zone drilling targets including the Namur, Hutton and Birkhead shale down to 7,000 feet.
The initial term of the drilling rig contract is 18 months with the option to extend the contract for up to a further 24 months.
The pipeline project stretches from the remote Cooper Basin region in South Australia to South East Queensland.
The wells were part of a 140 to 150 well program Husky plans to finish this year.