Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Beach Energy Ltd    BPT   AU000000BPT9

News SummaryMost relevantAll newsSector newsTweets 

Beach Energy : Cooper Basin NTNG and SACB JV Unconventional update

share with twitter share with LinkedIn share with facebook
share via e-mail
03/14/2014 | 02:00am CEST

For Immediate Release - 14 March 2014

Ref. #016/14

ASX Ltd/SGX Singapore Exchange Ltd Companies Announcement Office Electronic Lodgement System

Dear Sir,


Beach Energy Ltd (ASX: BPT, "Beach") advises the following in relation to the unconventional exploration program in the Nappamerri Trough Natural Gas ("NTNG") project in PEL 218 (Beach 70% and operator, Chevron Exploration Australia 1 Pty Ltd ("Chevron") 30%) and ATP 855 (Beach 46.9% and operator, Chevron 18% and Icon Energy Ltd 35.1%), and the South Australian Cooper Basin Joint Venture ("SACB JV") (Beach 20.21%, Santos Ltd 66.6% and operator, Origin Energy Ltd 13.19%).


The Joint Venture has received an offer of Petroleum Retention Licences over the entirety of PEL 218 which will secure tenure over this strategically positioned resource, initially for up to 15 years. The offer, from the South Australian Government, is in recognition of the Joint Venture proving the continuous nature of the basin centred and shale gas plays and demonstrating the ability to flow gas from multiple sections of the Permian target zone. If the project proceeds to development and commercial production, tenure would be further extended by conversion to Production Licences.
The first two fracture stimulation stages in the lower Patchawarra Formation of the Boston-1 vertical exploration well have been performed. Mechanical issues experienced during the first two stages are being evaluated and amongst the options being assessed by the Operator for recommendation to the Joint Venture are a modified approach to stimulation for the remaining 10 stages in this well or a substitute program in Boston-2. An alternate method may involve pumping stimulation fluid down a tubing string, similar to that which has been previously undertaken with success in Holdfast-1 and Encounter-1. Such work could be completed later in the year. The Operator is recommending that the existing stages in Boston-1 be flow tested to acquire zonal contribution data in the lower part of the target section. Mechanical issues were also encountered during the first stimulation stage at Boston-3, the second horizontal exploration well in the program. Evaluation is currently underway, and subject to an appropriate re-design and Joint Venture approval, then further stimulation of this
well could occur around the same time as any further stimulation on Boston-1 / Boston 2.

Page 1

ASX Release

The Nappamerri Trough subsurface environment is challenging in terms of both temperature and pressure, with the Joint Venture applying the latest technology to advance the program. During this exploration stage some wells will be more successful than others, but all are providing valuable data as the Joint Venture moves towards the completion of this stage.
The successful introduction of a snubbing unit to the program is an example of improving operational efficiencies by having fit for purpose equipment to assist with well completions and workovers. This unit has successfully fished equipment from both the Holdfast-2 and Dashwood-1 wells.
The Holdfast-2 well has been constrained for reservoir management trials since February 27 and has flowed 0.25 MMscfd on a 20/64" choke. Evaluation of the full potential of this exploration well is continuing with the well to be shut-in to monitor the pressure build up response as part of assessing fracture stimulation effectiveness. The well will be also checked for obstructions in the horizontal section using coiled tubing and methods such as nitrogen lift may be considered to aid lifting the stimulation fluid out of the well. These results will guide the forward testing program. Dashwood-1 is expected to commence flow shortly with a stabilised rate expected in the coming weeks.
The snubbing unit has now moved to Nepean-1 where it will carry out milling operations prior to flow testing this well after which it will move to Marble-1 for similar work.

ATP 855

In ATP 855 in Queensland, Etty-1 the sixth and final well of the current exploration program is currently drilling ahead in the Toolachee formation. The well will be cased and suspended for future fracture stimulation which will take place in a campaign with Redland-1, Geoffrey-1, and Hervey-1 commencing in mid-2014.


Since the last update, Moomba-193 ST1, part of the REM/Patchawarra program of wells, was drilled to a total depth of 3,396 metres, with a lateral in the Murteree Shale of approximately 900 metres.
In the same program, the Roswell-2 horizontal well was drilled to a total depth of 3,480 metres with a 450 metre lateral in the Roseneath Shale. A five stage fracture stimulation of this section has been
completed and was monitored using a surface micro-seismic array.

Page 2

ASX Release

Yours sincerely,

Reg Nelson

Managing Director, FAusIMM

For more information contact: Corporate

Reg Nelson

Beach Energy Ltd

08 8338 2833

Investor Relations

Chris Jamieson

Beach Energy Ltd

08 8338 2833

Page 3

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on BEACH ENERGY LTD
06/19 COOPER ENERGY : Announces Another Successful Callawonga Well
06/14 BEACH ENERGY : Credit Suisse Investor Conference
06/13 COOPER ENERGY : Beach Energy Suspends Callawonga-16 as a Future Producer
06/07 BEACH ENERGY : Monthly Drilling Report May 2017
05/31 COOPER ENERGY : Beach Energy and Cooper drill successful Callawonga-18 well
05/30 COOPER ENERGY : Beach Energy Suspends Callawonga-18 as a Future Producer
05/22 COOPER ENERGY : announces successful Callawonga field well
05/22 COOPER ENERGY : Announces Successful Callawonga Field Well
05/16 COOPER ENERGY : Beach begins Cooper basin drilling
05/04 NEWPORT EXPLORATION : Pennington,6 on ex pel 91 intersects 8.4 meters of net pay
More news
Sector news : Oil & Gas Exploration and Production - NEC
06/22 Canada's Cenovus facing tough market for critical asset sales
06/21 Norway offers record number of blocks for Arctic oil exploration
06/20DJWHAT'S NEWS : Business & Finance -- WSJ
06/19 EQT : Oil and gas producer EQT to buy Rice Energy in $6.7 billion deal
06/13DJCorrection to Energy Companies Story
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
04/30 Beach Energy's (BEPTF) CEO Matt Kay on Q3 2017 Results - Earnings Call Transc..
02/21 Beach Energy Ltd. reports 1H results
2016 Beach Energy Ltd (BCHEY) CEO Matt Kay Hosts Analyst Day - Slideshow
2016 Beach Energy's (BEPTF) CEO Matt Kay on Q3 2016 Results - Earnings Call Transc..
2016 Beach Energy's (BEPTF) CEO Matthew Kay on Q3 2016 Results - Earnings Call Tra..
Financials ( AUD)
Sales 2017 678 M
EBIT 2017 175 M
Net income 2017 157 M
Finance 2017 223 M
Yield 2017 3,27%
P/E ratio 2017 6,67
P/E ratio 2018 8,18
EV / Sales 2017 1,26x
EV / Sales 2018 1,09x
Capitalization 1 077 M
More Financials
Duration : Period :
Beach Energy Ltd Technical Analysis Chart | BPT | AU000000BPT9 | 4-Traders
Full-screen chart
Technical analysis trends BEACH ENERGY LTD
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 12
Average target price 0,69  AUD
Spread / Average Target 20%
Consensus details
EPS Revisions
More Estimates Revisions
Matthew Kay Chief Executive Officer
Glenn Stuart Davis Independent Non-Executive Chairman
Michael Dodd Chief Operating Officer
Morné Engelbrecht Chief Financial Officer
Fiona Rosalyn Vivienne Bennett Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
EOG RESOURCES INC-13.17%50 678
CNOOC LTD-11.71%48 765
More Results