Beach Energy has discovered two new oil fields at Bauer-1 well in the Western Flank, where one is the third in a five well exploration program at the PEL 91, and the other is the last well in the preliminary 11-well program in the PEL 92 at Rincon-1.
Western Flank
The beginning of the FY12 Joint Venture permitted the exploration and development campaign for nine wells, saving the PEL 92 well that will be done following this campaign.
The Bauer-1 well has obtained 15 m of gross oil column, along with 13 m of net pay in well’s McKinlay/Namur Sandstone part. Primary volumetric evaluation shows that the discovery potential might be recoverable oil in the order of two million barrels.
After the appraisal program is completed, the Ensign#18 drill rig will be mobilized to the Searcy-1 drilling well. This well is situated around 8.5 km to Bauer-1’s north-east direction. It is anticipated that Bauer-1 well will be on-line in the Q4, 2011.
The Rincon-1 well has obtained 5 m of gross oil column, along with 4.5 m of net pay at well’s McKinlay/Namur Sandstone part. The primary volumetric appraisal of Beach Energy recommends up to 500000 recoverable oil barrels.
After the estimation campaign is over, the Ensign#30 drill rig will be relocated to the Elliston-1 drilling well. The location of this well is about 25 km to the southern side of the Rincon-1 well. At present, the company is assessing options to bring Rincon-1 on-line.
Beach Energy is the operator of both the Bauer-1 and Rincon-1 well. It holds 40% in Bauer-1 well and 75% in Rincon-1 well.
Source: http://www.beachenergy.com.au/