Beach Finds Gas in Oz Otway Basin
Sydney-listed Beach Energy on November 10 announced a gas discovery at Enterprise-1 exploration well in licence VIC/P42(V) in the Victorian Otway basin.
The Enterprise-1 was spud from an onshore location, 3.5 km from Port Campbell and 8 km from the Otway gas plant. Beach has a 60% operating interest in the licence while O.G. Energy has the remaining 40% interest.
The well was drilled to a total depth of 4,974 m and intersected a 146-m gas column in the Upper Waarre formation, including 115 m of net gas pay with no gas-water contact identified, Beach said. Sampling indicates a gas composition with 10% CO2 by volume.
“The forward plan is to case and suspend the well as a future producer. A well test will confirm well productivity and provide data for the proposed pipeline to the Otway gas plant. Detailed engineering work and regulatory approvals process for the pipeline is already underway,” Beach said. A volumetric estimate for the Enterprise discovery is expected to be completed before the release of the company’s FY21 half-year results in February 2021.
Beach CEO Matt Kay said that the company’s focus would now move to the upcoming offshore Victorian Otway basin drilling campaign, which is due to begin in the March 2021 quarter. The Artisan-1 exploration well will be the first to be drilled, followed by development wells at the Geographe and Thylacine fields.