Australia Worldwide Announces Updated Field Development Resource Estimates
Drilling Activity Details
Australia
Drilling Activity Summary
Description
Based on results from recently completed #1- and #2-Waitsia wells in Western Australia, Australia Worldwide Exploration has increased its estimate of gross recoverable gas. According to the Perth-based company, estimates of total gross recoverable gas (P50) increased from 290 Bcf of gas to 484 Bcf of gas. There is also an estimated gross 2C contingent resources of 237 Bcf of gas in Senecio, Irwin, and Synaphea tight gas fields in Dongara/Wagina. The preliminary field development plan involves drilling and completing 20 vertical or deviated production wells, including the three wells drilled to date (#3-Senecio, #1-Waitsia, and #2-Waitsia). Australia Worldwide is the operator of the L1 and L2 permits with 50% interest in partnership with Origin Energy Resources holding the other 50%. Origin is the operator of EP320 with 67& interest, with Australia Worldwide holding the remaining 33%.
Based on results from recently completed #1- and #2-Waitsia wells in Western Australia, Australia Worldwide Exploration has increased its estimate of gross recoverable gas. According to the Perth-based company, estimates of total gross recoverable gas (P50) increased from 290 Bcf of gas to 484 Bcf of gas. There is also an estimated gross 2C contingent resources of 237 Bcf of gas in Senecio, Irwin, and Synaphea tight gas fields in Dongara/Wagina. The preliminary field development plan involves drilling and completing 20 vertical or deviated production wells, including the three wells drilled to date (#3-Senecio, #1-Waitsia, and #2-Waitsia). Australia Worldwide is the operator of the L1 and L2 permits with 50% interest in partnership with Origin Energy Resources holding the other 50%. Origin is the operator of EP320 with 67& interest, with Australia Worldwide holding the remaining 33%.