BEACH ENERGY LIMITED For Immediate Release - 7 October 2015
Ref. #063/15
ASX Ltd
Companies Announcement Office Electronic Lodgement System
AUSTRALIA - COOPER AND EROMANGA BASINS DEVELOPMENT
South Australian Gas (Fixed Factor Area Joint Venture: Beach 20.21%, Santos 66.6% and operator, Origin 13.19%)A six‐well development campaign is underway in the Tirrawarra and Gooranie fields, located approximately 50 kilometres north of Moomba, targeting gas and gas liquids in the Patchawarra Formation and oil in the Tirrawarra Sandstone. The campaign is being undertaken as a result of past drilling, which highlighted significant remaining potential within both gas and oil reservoirs, and findings from the detailed Patchawarra Formation study undertaken in 2011. Included in the program is one Permian source rock fracture stimulation per well, with the aim to test incremental well productivity. Tirrawarra‐86, the fourth well of the campaign, was cased and suspended following intersection of gas and oil pay in target zones in‐line with pre‐drill estimates. Tirrawarra‐87 is currently drilling ahead.
A five‐well campaign was completed in the greater Limestone Creek area, located approximately 50 kilometres south‐east of Moomba. Jena‐23, the last development well of the campaign, was drilled to develop booked reserves in the McKinlay Member and Mid‐Namur Sandstone. The well was cased and suspended following intersection of approximately two metres of net oil pay in the McKinlay Member. Beach elected not to participate in the first development well of the campaign, Seccante‐2.
EXPLORATION AND APPRAISAL
Spitfire‐7, located in PPL 258, is an oil appraisal well on the southern side of the Spitfire Field. The well is located approximately 450 metres west of Spitfire‐2 and approximately 500 metres south‐ west of Spitfire‐4, and targeted the Birkhead Formation. Spitfire‐7 was cased and suspended as a future oil producer following intersection of 6.6 metres of net oil pay within the target Birkhead Formation.
The five‐well campaign in the greater Limestone Creek area included two appraisal wells and one near field exploration well, which aimed to appraise additional oil reserves in the McKinlay Member and other secondary targets. The Calamia East‐1 near field exploration well was drilled up‐dip of Calamia West‐1 and targeted the McKinlay Member and Birkhead Formation. The well was cased and suspended following intersection of 1.7 metres of net oil pay in the McKinlay Member and
5.5 metres of net oil pay in the Birkhead / Hutton formations. Calamia East‐1 marked completion of the campaign, with Beach electing not to participate in the Biala‐16 appraisal well. There are no plans for follow‐up drilling in the near‐term.
The Windorah near‐field exploration program is proposed as a five‐well campaign to test simple four‐ way dip closures, as well as the potential for stratigraphic trap and basin centred gas plays across a large geographical area of the Windorah Trough, proximal to the Whanto Field. Whanto South West‐1, located in ATP 1189P approximately 110 kilometres north‐northeast of the Ballera gas processing plant, is the second well of the campaign. The results of Whanto South West‐1 were in‐line with pre‐drill estimates and the well will be cased and suspended upon completion of final logging. The outcome represents a new field discovery in the Whanto area.
The broader 2015 Windorah‐Marama development project includes well head connections in the Whanto, Mt Howitt and Toby fields to the existing Coonaberry gathering system. This will allow existing stranded fields to be brought online and connections for current development and near‐field exploration drilling outcomes. Pipelines associated with the 2015 Windorah‐Marama development project are expected to be completed in Q2 FY16.
Well | Participants | Progress and Summary | Primary Targets |
Cooper Basin non‐operated | |||
Tirrawarra‐86 | BPT 20.21% STO* 66.60% ORG 13.19% | Drilling this month: 2,155 metres Current Depth: 3,119 metres (total depth) Status: Cased and suspended as a future Pe rmian gas producer | Patchawarra Formation Tirrawarra Sandstone |
PPL 20 Gas development C/E Basin, SA | |||
Tirrawarra‐87 | BPT 20.21% STO* 66.60% ORG 13.19% | Drilling this month: 927 metres Current Depth: 927 metres Status: Drilling ahead | Patchawarra Formation Tirrawarra Sandstone |
PPL 20 Gas development C/E Basin, SA |
Jena‐23 | BPT 20.21% STO* 66.60% ORG 13.19% | Drilling this month: 1,340 metres Current Depth: 1,340 metres (total depth) Status: Cased and suspended as a future McKi nlay Me mber oil producer | McKinlay Me mber Mid‐Namur Sandstone |
PPL 149 Oil development C/E Basin, SA |
Spitfire‐7 | BPT 40.00% SXY* 60.00% | Drilling this month: 1,126 metres Current Depth: 1,827 metres (total depth) Status: Cased and suspended as a future Birkhead Formation oil producer | Birkhead Formation |
PPL 258 Oil appraisal C/E Basin, SA |
Calamia East‐1 | BPT 20.21% STO* 66.60% ORG 13.19% | Drilling this month: 1,569 metres Current Depth: 1,569 metres (total depth) Status: Cased and suspended as a future McKi nlay Me mber and Birkhead / Hutton Formation oil producer | McKinlay Me mber Birkhead Formation |
PPL 149 Oil exploration C/E Basin, SA |
Whanto South West‐1 | BPT 23.20% STO* 60.06% ORG 16.74% | Drilling this month: 1,962 metres Current Depth: 3,144 metres Status: Drilling ahead | Toolachee Formation |
ATP 1189P Gas exploration C/E Basin, QLD |
( * ) Operator
BPT Beach Energy Ltd STO Santos Ltd SXY Senex Energy Ltd ORG Origin Energy Ltd
Acting Chief Executive Officer
For more information, contact the following on +61 8 8338 2833 Corporate
Neil Gibbins Acting Chief Executive Officer
Investor RelationsDerek Piper Investor Relations Manager
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