Beach Energy Limited (ASX:BPT) Monthly Drilling Report Ending 6 October 2010
Perth, Oct 6, 2010 AEST (ABN Newswire) - Beach Energy Limited (ASX:BPT) (PINK:BEPTF) is pleased to release monthly drilling report ending 6 October 2010.
AUSTRALIA
Beach Operated Cooper-Eromanga Basin Gas - PEL 106FI Block
Testing operations at Canunda-1 are expected to recommence next week following fishing operations to remove wireline from the hole. The evaluation is intended to define size and production characteristics of this high liquids gas field (Beach 50%).
Cooper Basin Gas Development - Santos (ASX:STO) Operated
Operations in the Coonatie Gas Field have resumed with Coonatie-18 (Beach 17.14%) which is currently drilling surface hole. The Strzelecki Northeast-1 (Beach 20.2%) gas development well is expected to spud later this week as is the Irtalie East-1 Jurassic oil exploration well (Beach 38.5%) in the Queensland portion of the Basin.
Beach Operated Cooper Basin Shale
Gas Exploration - PEL 218
Drilling operations for Encounter-1 (Beach 90%), the first of a two well, back-to-back exploration program targeting shale gas potential in the South Australian portion of the Nappamerri Trough, commenced on October 3. Across the Nappamerri Trough the objective Roseneath, Epsilon and Murteree formations have the potential to contain gas in place in excess of 200 TCF. The shales of the Nappamerri Trough are considered to share many of the attributes of the prolific shale gas producing provinces of the USA.
Encounter-1 is estimated to take around 50 days to drill and will be immediately followed by Holdfast-1.
Extensive coring and logging programs are planned with the aim of better defining volumes of gas in place and assessing the physical and mechanical properties of the rock to plan for stimulation in early 2011. Fracture stimulation is one of the keys to unlocking gas from shales. The outcome of these wells will aid the future planning of a pilot production well expected to be drilled in 2011.
Beach Operated Geothermal - Paralana Project, Arrowie Basin
A wireline crew has been mobilised to Paralana-2 (Beach 21%) to investigate the blockage that prevented perforation of the target interval in late August. A short 3-day investigation is being undertaken to determine the nature of the obstruction at 3200m and clarify the forward plan for remedial action.
INTERNATIONAL
Unconventional
Non-operated Shale Oil Appraisal, South
Antelope Prospect, Williston Basin - North Dakota, USA
The Henderson 4-26/35H shale oil appraisal well (Beach 14.7% net revenue interest) spudded on 3 September. The well is currently drilling ahead in the lateral section and is expected to reach total depth in about a week. The well, targeting 600,000 barrels of recoverable oil (90,000 net to Beach), has been designed with a 2.7km long horizontal section through the Three Forks Formation reservoir, and will be stimulated with a 24 stage fracture stimulation treatment.
Drilling Report - Period ending 6 October 2010
( * ) Operator(s) Secondary TargetsBPT Beach Energy LimitedSTO Santos LimitedSEA Sundance Energy Australia Limited (ASX:SEA)Helis Helis Oil & Gas Company L.LCORG Origin Energy Resources LimitedADE Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF) 1.--------------------------------Well Participants--------------------------------Encounter-1 BPT* 90.00%PEL 218 ADE 10.00%Gas Exploration C/E Basin, SA-------------------------------------------------------------------------------------Weekly Progress & Summary Primary Targets-----------------------------------------------------Report Time: 0600 (CST) 06/10/2010 PatchawarraDepth: 952m Operation: Drilling surface hole. Progress: 952m-----------------------------------------------------2.-----------------------------------Well Participants-----------------------------------Coonatie-18 BPT 17.14%PPL131 STO* 72.32%Gas Development ORG 10.54%C/E Basin, SA-------------------------------------------------------------------------------------------------Weekly Progress & Summary Primary Targets--------------------------------------------------------------Report Time: 0600 hrs (CST) 06/10/2010 multi Permian targetsDepth: 793m Operation: Drilling ahead in 9 7/8" surface hole.Progress: 793m--------------------------------------------------------------3.--------------------------------Well Participants--------------------------------Coonatie-20 BPT 17.14%PPL131 STO* 72.32%Gas Development ORG 10.54%C/E Basin, SA-----------------------------------------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 06/10/2010 multi Permian targetsDepth: 3239m (TD) Operation: Well is cased and suspended as a future Permian gas producer.Progress: 460m---------------------------------------------------------------4.-------------------------------------Well Participants-------------------------------------Sect. 25&36 McKenzie BPT County, Nth Dakota SEA Oil Appraisal Helis* Williston Basin 7 others -----------------------------------------------------------------------------------------------Weekly Progress & Summary Primary Targets----------------------------------------------------------Report Time: 0600 hrs (local) 05/10/2010 Three Forks FmDepth: 4978m Operation: Drilling ahead in lateral sidetrack. Progress: 4978m----------------------------------------------------------
For the complete Beach Energy drilling report including Well Location Map, please view the following link:
http://www.abnnewswire.net/media/en/docs/63895-ASX-BPT-179829.pdf
Contact
Steve Masters / Nicola Frazer
Beach Energy Limited
Tel: +61-8-8338-2833
http://www.beachenergy.com.au
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