Tap Oil gives an update on the Driftwood-1 well
Published by Louise Mulhall,
Editorial Assistant
Oilfield Technology,
The WA-320-P permit is located in the Carnarvon Basin, offshore Western Australia. Tap Oil previously announced in the March 2016 quarterly (ASX release 30 April 2016) a commitment well is due in WA-320-P by 4Q 2016. After extensive technical evaluation and engagement with the regulator, Quadrant Energy (formerly Apache), Operator of the WA-320-P permit, has recommended the Driftwood-1 well as the year 3 commitment well in WA-320-P, replacing the previously proposed Palmerston-1 well.
Cost
The Driftwood-1 commitment well has an expected total well cost of AUS$15.47 million (gross), substantially lower than the estimated cost for Palmerston-1 of AUS$98.2 million.
Tap has a 5% carry on the commitment well in WA-320-P of up to US$3.5 million (up to a total well cost of US$70 million) from JX Nippon Oil and Gas Exploration (Australia) Pty Ltd.
The Driftwood-1 commitment well is located in WA-320-P in the Barrow sub-basin of the Northern Carnarvon Basin, offshore Western Australia, approximately 1km north of the Rosily-1A exploration well which had minor oil shows.
Quadrant Energy has advised that the Noble Tom Prosser jackup drilling rig is expected to commence drilling the Driftwood-1 commitment well on 1 August 2016.
Well objective
The well objective is to test the Early Cretaceous sandstones of the Mardie Greensand Member, Birdrong Member and Zeepaard Formation in a low-relief, northeast-southwest trending four-way dip closure.
A further update will be provided when drilling commences.
Adapted from a press release by Louise Mulhall
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/30062016/tap-oil-gives-an-update-on-the-driftwood-1-well/
You might also like
OTC GreenLight Becomes the World’s First DNV-Qualified Digital Pressure Testing System
As Offshore Technical Compliance (OTC) continues to expand their footprint in the digital pressure testing field of the Oil and Gas industry, their new and improved GreenLight has achieved a major milestone and sets a new standard for digital pressure testing of well control systems.