Drillsearch Energy makes oil discovery in Cooper Basin

Drillsearch Energy Limited has announced a new oil discovery at the Balgowan-1 exploration well in PEL 91, on the Western Flank Oil Fairway of the Australian Cooper Basin.

Wireline logs carried out at Balgowan-1 have confirmed a 9 m gross oil column in the McKinlay-Namur and as a result, the well has been cased and suspended as a future oil producer. This is the 14th oil discovery in PEL 91.

Analysis of the well results is continuing, and Drillsearch will provide an update on the size of the discovery in due course.

Balgowan-1 is located 3.6 km northeast of the Stunsail-1 oil discovery. Following casing and suspension, the rig will now move to drill Burners-1, which is located midway between Balgowan-1 and Stunsail-1.

Map of PEL 91, including Balgowan-1 and Burners-1.

Commenting on the find, Drillsearch Managing Director, Brad Lingo, said: “The Balgowan-1 discovery represents an excellent start to the FY2015 drilling campaign on the Western Flank, building on the success we had in the last financial year. In particular, both Balgowan-1 and Stunsail-1 illustrate the prospectivity of the previously under-explored area northeast of the prolific Bauer oil field.”

Drillsearch owns 60% of PEL 91, with Beach Energy owning the remaining 40%.

Adapted from press release by Katie Woodward

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/14082014/drillsearch-energy-makes-oil-discovery-in-cooper-basin-1270/