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- Carnarvon Energy (CVN) reports further drilling progress at the Apus-1 oil and gas well, located offshore WA about 27 kilometres south-west of the “successful” Pavo-1 well
- The company commenced drilling at Apus-1 in the Bedout Sub-basin last week
- Since then, it says the surface conductor has been installed and the well has reached a measured depth (MD) of about 932 metres. The casing has also been set and cemented in place
- The rig is planned to drill ahead in the hole to about 2,200m MD, after which it will drill through the expected reservoir interval to a proposed total depth of 2,900m MD
- The Apus-1 well is targeting a large structure with two potential reservoir intervals.
- CVN shares last traded at 32 cents
Carnarvon Energy (CVN) has reported further drilling progress at the Apus-1 oil and gas well, located offshore Western Australia about 27 kilometres south-west of the “successful” Pavo-1 well.
The company commenced drilling at Apus-1 in the Bedout Sub-basin last week.
Carnarvon said the surface conductor has since been installed and the well has reached a measured depth (MD) of about 932 metres. The casing has also been set and cemented in place.
The rig is planned to drill ahead in the hole to about 2,200m MD and then set the liner, after which it will drill through the expected reservoir interval to a proposed total depth of 2,900m MD.
The Apus-1 well is targeting a large structure with two potential reservoir intervals.
Carnarvon has estimated a gross mean combined recoverable volume of 235 million barrels of liquids and 408 billion cubic feet of gas in the Caley and Milne Members within the main Apus structure, which includes Apus West and Apus East.
The company said the target reservoirs have been proved in the Dorado and Pavo discoveries, with the Caley Formation sands having been flow tested at equipment limits of about 11,000 barrels of oil per day in the Dorado-3 well.
“Apus is an attractive prospect, with Carnarvon ascribing an estimated one-in-four (23 per cent) geological probability of success,” the company said.
Carnarvon holds a 20 per cent interest in the Apus-1 well.
CVN shares last traded at 32 cents on April 12.
