Senex Energy Limited (Senex) have just announced a Cooper Basin oil discovery from the first well of its FY19 drilling campaign, Breguet-1.
The Breguet-1 oil exploration well is located approximately 1.6 kilometres west of the producing Spitfire oil field. The well was identified through a Liberator 3D seismic survey and was drilled to test sandstones of the Birkhead Formation within a four-way structural closure.
Senex encountered elevated gas readings and oil shows within the target formation. Preliminary evaluation of logs indicated a net pay of up to 5.7 metres within an 18.5-metre gross oil column. A wireline formation test was also performed across a depth of 1,673 to 1,689 metres which indicated the presence of movable oil.
Currently, the Breguet-1 well is being cased and suspended and is expected to be placed on production in Q2 FY19 through a flowline to existing infrastructure.
Senex has also announced that preliminary evaluation of results has provided ‘encouragement’ for potential follow-up appraisal drilling between the Breguet and Spitfire fields.
“We are delighted to have made this oil discovery from the first well of our FY19 drilling campaign. The firm 10 well FY19 campaign presents an exciting opportunity to drive growth and value from our western flank acreage, with a mix of exploration, appraisal and horizontal development wells,” announced Senex’s Managing Director and CEO, Ian Davies earlier this morning.
The company currently holds an extensive acreage position across the South Australian and Queensland Cooper Basin, with around 15,000 square kilometres considered prospective for conventional and unconventional (tight) oil.
More information on this project can be accessed here.