BEACH ENERGY LIMITED For Immediate Release - 7 January 2015
Ref. #001/15
ASX Ltd/SGX Singapore Exchange Ltd Companies Announcement Office Electronic Lodgement System
Highlights: Ten wells drilled at a success rate of 80%
December 2014 Bauer field pad well development program complete, with 2P reserve increases expected
SACB JV close space infill drilling campaign in the Big Lake field near completion
DEVELOPMENT
Australia - Cooper and Eromanga BasinsOperated
PRLs 151 to 172 (formerly PEL 91)(Beach 40%, Drillsearch 60%)
The last well of the six‐well oil development campaign in the Bauer field was completed in December (Bauer‐18). This campaign is part of a broader full field development plan aimed to support past record levels of production through the development of the highly productive Namur Sandstone reservoir. The results of the campaign exceeded Beach's expectations, with 2P reserve increases expected.
Bauer‐18 intersected the target top Namur Sandstone 0.7 metres high to prognosis, with 6.6 metres of net oil pay. An additional 4.2 metre oil bearing gross interval of overlying McKinlay member was also intersected. The well was cased and suspended as a future Namur Sandstone oil producer.
The six recently drilled Bauer development wells are all expected to be online in Q3 FY15.
The Hanson‐2 oil development well was spudded on 29 December and reached total depth subsequent to month‐end. The well is currently being evaluated with initial indications of an eight metre gross oil column in the McKinlay Member and Namur Sandstone reservoirs.
Monthly Drilling Report - December 2014
Non‐operated
South Australian Gas(Beach 20.21%, Santos 66.6% and operator, Origin 13.19%)
During calendar years 2013 and 2014, the gas development program on the South Australian side of the Cooper Basin primarily focused on close space infill drilling at the Cowralli, Moomba North and Big Lake fields. This infill drilling campaign targeted conversion of undeveloped reserves to developed reserves, with the expectation of increased gas production from 2015.
During December, three wells were drilled in the Big Lake field. Big Lake‐123, the last well in the three‐well pad development program for the central part of the field, was cased and suspended as a future Permian gas producer. In total, the central field program was completed over the period November 2013 to December 2014 and comprised 32 wells drilled from six pads. The final pad of three wells has been deferred to assess learnings from the adjacent pads.
Big Lake‐132 and ‐133 are the final two wells of the three‐well development program for the south‐ west sector of the field. Big Lake‐132 was cased and suspended as a future Permian gas producer. Big Lake‐133 was drilling ahead at month‐end and has subsequently been cased and suspended.
The Nephrite South and Kanowana fields are located to the north‐west of Moomba and the Mudera field is located to the south‐east of Moomba. Development drilling in these fields is consistent with the joint venture's current objective for more geographically widespread drilling relative to the close space infill drilling conducted near Moomba.
Nephrite South‐10 was cased and suspended as a future Patchawarra Formation gas producer. The well was the first of a four‐well pad program for the Nephrite South Field, located approximately 45 kilometres north‐west of Moomba. Nephrite South‐11, the second well of the four‐well pad program, is currently being prepared for casing and suspending as a future Patchawarra Formation gas producer.
Kanowana‐10 is the first of two standalone development wells on the Kanowana field, located approximately 40 kilometres north‐west of Moomba. The well was cased and suspended following confirmation of gas pay of approximately 55 metres in the Patchawarra Formation and oil pay of approximately 28 metres in the Tirrawarra Sandstone.
Mudera‐17 is the first well in a nine‐well development program for the Coorikiana Sandstone on the Mudera, Marabooka and Strzelecki fields, located approximately 35 kilometres south‐east of Moomba. The well confirmed gas pay of approximately 10 metres in the Coorikiana Sandstone and was cased and suspended.
(Beach 20.21%, Santos 66.6% and operator, Origin 13.19%)
Gaschnitz‐2 is the last of the three‐well Gaschnitz field development drilling campaign for 2014 and is currently drilling ahead at a depth of 3,254 metres. Primary targets are the Toolachee, Epsilon and Patchawarra Formations and Tirrawarra Sandstone. Fracture stimulation of the three Gaschnitz wells across multiple lithologies is planned for this program. Details and timing of the fracture stimulation
program are still to be agreed by the joint venture partners.
Page 2 of 6
Monthly Drilling Report - December 2014
EXPLORATION and APPRAISAL
Australia - Cooper and Eromanga BasinsOperated
PRLs 129 to 130 (formerly PEL 106)(Beach 50%, Drillsearch 50%)
The four‐well exploration and appraisal campaign, which is proximal to the existing Canunda field and gas pipeline to Middleton, was completed in December. The program targeted gas and gas liquids in the Patchawarra Formation and Tirrawarra Sandstone.
Canunda‐2, the first well in the program, was cased and suspended in October 2014. Maupertuis‐1, the second well in the program, was also cased and suspended but with Beach electing not to participate. Antechamber‐1 and Danville‐1 were drilled in December, with the wells being plugged and abandoned after failing to intersect commercial hydrocarbons.
Non‐operated
Queensland OilThe Tennaperra‐4 appraisal well (Beach 30%, Santos 70%) was drilled to appraise the northern area of the Tennaperra field and intersected 5.4 metres of net pay in the Birkhead Formation and 3.2 metres in the Namur Sandstone. The well was cased and suspended as a future oil producer.
Egypt Abu Sennan Concession(Beach 22%, Kuwait Energy 50% and operator, Dover 28%)
The ASH‐1X ST1 oil exploration well is drilling ahead at a depth of 3,270 metres subsequent to month‐end. The well is primarily targeting the Alam El Bueib and Khatatba Formations.
Testing was completed at the Al Jahraa‐3 oil appraisal well, with the well cased and completed as an Abu Roash "C" member oil producer. A cased hole test at a depth of 2,953 metres to 2,961 metres was conducted over an 11 hour period. Over this period the well flowed at a maximum recorded rate of 1,385 barrels of oil per day on a 128/64" choke.
The Al Jahraa‐4 oil appraisal well, located approximately 3,300 metres south‐east from Al Jahraa‐3, was spudded on 23 December and is currently drilling ahead. The well is targeting the Abu Roash
"C", "D" and "E" members.
Page 3 of 6
Monthly Drilling Report - December 2014
Well | Participants | Progress and summary | Primary targets |
Cooper and Eromanga Basins operated
Bauer‐18
PPL 253 (ex PEL 91)
Oi l devel opment (Pa d) Cooper, SA
BPT* 40.00% Dri l l i ng thi s month: DLS 60.00% Current Depth:
Sta tus :
919 metres
1,565 metres (tota l depth)
Cas ed and s us pended as a future McKi nl ay Member and
Na mur Sa nds tone oi l producer
McKi nl a y Member
Na mur Sands tone
Hanson‐2 | BPT* 40.00% DLS 60.00% | Dri l l i ng thi s month: 659 metres Current Depth: 659 metres Sta tus : Dri lling ahea d | McKi nl a y Member Na mur Sands tone |
PPL 255 Oi l development C/E Ba s i n, SA | BPT* 40.00% DLS 60.00% | Dri l l i ng thi s month: 659 metres Current Depth: 659 metres Sta tus : Dri lling ahea d | McKi nl a y Member Na mur Sands tone |
Antechamber‐1 | BPT* 50.00% DSL 50.00% | Dri l l i ng thi s month: 2,812 metres Current Depth: 2,812 metres (tota l depth) Sta tus : Pl ugged and a bandoned | Pa tcha wa rra Formati on Ti rrawarra Sa nds tone |
PRL 129 (ex PEL 106) Ga s expl ora ti on C/E Ba s i n, SA | BPT* 50.00% DSL 50.00% | Dri l l i ng thi s month: 2,812 metres Current Depth: 2,812 metres (tota l depth) Sta tus : Pl ugged and a bandoned | Pa tcha wa rra Formati on Ti rrawarra Sa nds tone |
Danville‐1 | BPT* 50.00% DSL 50.00% | Dri l l i ng thi s month: 2,825 metres Current Depth: 2,825 metres (tota l depth) Sta tus : Pl ugged and a bandoned | Pa tcha wa rra Formati on Ti rrawarra Sa nds tone |
PRL 129 (ex PEL 106) Ga s expl ora ti on C/E Ba s i n, SA | BPT* 50.00% DSL 50.00% | Dri l l i ng thi s month: 2,825 metres Current Depth: 2,825 metres (tota l depth) Sta tus : Pl ugged and a bandoned | Pa tcha wa rra Formati on Ti rrawarra Sa nds tone |
Cooper and Eromanga Basins non‐operated
Big Lake‐123
PPL 11
Ga s devel opment
C/E Ba s i n, SA
BPT 20.21% Dril ling thi s month: STO* 66.60% Current Depth:
ORG 13.19% Sta tus :
987 metres
3,202 metres (tota l depth)
Cas ed and s us pended as a future Permi a n gas producer
Pa tcha wa rra Formati on Ti rrawarra Sa nds tone Merri melia Forma ti on
Big Lake‐132 | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 274 metres Current Depth: 3,186 metres (tota l depth) Sta tus : Cas ed and s us pended as a future Permi a n gas producer | Pa tcha wa rra Formati on Ti rrawarra Sa nds tone Merri melia Forma ti on |
PPL 11 Ga s devel opment C/E Ba s i n, SA | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 274 metres Current Depth: 3,186 metres (tota l depth) Sta tus : Cas ed and s us pended as a future Permi a n gas producer | Pa tcha wa rra Formati on Ti rrawarra Sa nds tone Merri melia Forma ti on |
Big Lake‐133 | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 2,787 metres Current Depth: 2,787 metres Sta tus : Dri lling ahea d | Pa tcha wa rra Formati on Ti rrawarra Sa nds tone |
PPL 11 Ga s devel opment C/E Ba s i n, SA | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 2,787 metres Current Depth: 2,787 metres Sta tus : Dri lling ahea d | Pa tcha wa rra Formati on Ti rrawarra Sa nds tone |
Nephrite South‐10 | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 894 metres Current Depth: 3,348 metres (tota l depth) Sta tus : Cas ed and s us pended as a future Permi a n gas producer | Pa tcha wa rra Formati on |
PPL 140 Ga s devel opment C/E Ba s i n, SA | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 894 metres Current Depth: 3,348 metres (tota l depth) Sta tus : Cas ed and s us pended as a future Permi a n gas producer | Pa tcha wa rra Formati on |
Nephrite South‐11 | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 3,282 metres Current Depth: 3,282 metres (tota l depth) Sta tus : Runni ng pressure tes t | Pa tcha wa rra Formati on |
PPL 140 Ga s devel opment C/E Ba s i n, SA | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 3,282 metres Current Depth: 3,282 metres (tota l depth) Sta tus : Runni ng pressure tes t | Pa tcha wa rra Formati on |
Kanowana‐10 | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 2,821 metres Current Depth: 2,821 metres (tota l depth) Sta tus : Cas ed and s us pended as a future Permi a n gas producer | Pa tcha wa rra Formati on Ti rrawarra Sa nds tone |
PPL 233 Ga s devel opment C/E Ba s i n, SA | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 2,821 metres Current Depth: 2,821 metres (tota l depth) Sta tus : Cas ed and s us pended as a future Permi a n gas producer | Pa tcha wa rra Formati on Ti rrawarra Sa nds tone |
Mudera‐17 | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 1,133 metres Current Depth: 1,133 metres (tota l depth) Sta tus : Cas ed and s us pended as a future Coori ki a na Sands tone ga s producer | Coorikiana Sa nds tone |
PPL 22 Ga s devel opment C/E Ba s i n, SA | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 1,133 metres Current Depth: 1,133 metres (tota l depth) Sta tus : Cas ed and s us pended as a future Coori ki a na Sands tone ga s producer | Coorikiana Sa nds tone |
Gaschnitz‐2 | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 3,254 metres Current Depth: 3,254 metres Sta tus : Dri lling ahea d | Tool achee Forma ti on Eps ilon Forma ti on Pa tcha wa rra Formati on Ti rrawarra Forma ti on |
PPL 101 Ga s devel opment C/E Ba s i n, SA | BPT 20.21% STO* 66.60% ORG 13.19% | Dril ling thi s month: 3,254 metres Current Depth: 3,254 metres Sta tus : Dri lling ahea d | Tool achee Forma ti on Eps ilon Forma ti on Pa tcha wa rra Formati on Ti rrawarra Forma ti on |
Tennaperra‐4 | BPT 30.00% STO* 70.00% | Dril ling thi s month: 1,789 metres Current Depth: 1,789 metres (tota l depth) Sta tus : Cas ed and s us pended as a future Bi rkhea d Forma ti on oi l producer | Na mur Sands tone Bi rkhea d Formati on |
PL 168 Oi l Appra i s al C/E Ba s i n, QLD | BPT 30.00% STO* 70.00% | Dril ling thi s month: 1,789 metres Current Depth: 1,789 metres (tota l depth) Sta tus : Cas ed and s us pended as a future Bi rkhea d Forma ti on oi l producer | Na mur Sands tone Bi rkhea d Formati on |
Page 4 of 6
Monthly Drilling Report - December 2014
Well | Participants | Progress and summary | Primary targets |
ASH‐1X ST1
Abu Senna n
Oi l expl ora ti on
Egypt, Wes tern Des ert
BPT 22.00% Dri l l i ng thi s month: KEE* 50.00% Current Depth:
DOV 28.00% Status :
International
598 metres
2,794 metres
Si de tra ck ki cked off at 2,196 metres
Al a m El Buei b/Kha tatba
Abu Roa s h C, E
Al Jahraa‐3 | BPT 22.00% KEE* 50.00% DOV 28.00% | Dri l l i ng thi s month: 0 metres Current Depth: 3,321 metres (tota l depth) Status : Cas ed and suspended as a future Abu Roa s h oi l producer | Abu Roa s h C, D, E |
Abu Senna n Oi l Apprai s al Egypt, Wes tern Des ert | BPT 22.00% KEE* 50.00% DOV 28.00% | Dri l l i ng thi s month: 0 metres Current Depth: 3,321 metres (tota l depth) Status : Cas ed and suspended as a future Abu Roa s h oi l producer | Abu Roa s h C, D, E |
Al Jahraa‐4 | BPT 22.00% KEE* 50.00% DOV 28.00% | Dri l l i ng thi s month: 965 metres Current Depth: 965 metres Status : Drill ing ahea d | Abu Roa s h C, D, E |
Abu Senna n Oi l Appra i s al Egypt, Wes tern Des ert | BPT 22.00% KEE* 50.00% DOV 28.00% | Dri l l i ng thi s month: 965 metres Current Depth: 965 metres Status : Drill ing ahea d | Abu Roa s h C, D, E |
( * ) Op e ra tor
BPT: Be a ch En e rgy Ltd DLS: Dril lse a rch En e rgy Ltd DOV: Dove r In ve s tme n ts Ltd
KEE: Ku wa i t En e rgy Egyp t Ltd ORG: Ori gi n En e rgy Ltd STO: Sa n tos Ltd SXY: Se ne x Ene rgy Ltd
Page 5 of 6
Monthly Drilling Report - December 2014
Neil Gibbins
Chief Operating Officer
For more information, contact the following on +61 8 8338 2833
Corporate
Chris Jamieson Group Executive External Affairs
Mike Dodd General Manager Exploration and Development
Derek Piper Investor Relations Manager
Page 6 of 6
|
distributed by
|
