Otway Basin Testing Indicates 2P Reserves of 21 MMboe.

Drilling Activity Details

Locations

Australia

Operators
Post Date
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Drilling Activity Summary

Description

Beach Energy has confirmed reserves from the Enterprise gas field in offshore Victoria’s Otway Basin, Block VIC/P42(V). Testing indicated that the 2P (proven and probable) reserves are 21 MMboe (34 MMcf of gas) and 2 MMbbl of condensate. According to the company, the reserves estimate includes an allowance for expected reductions in condensate yield as the reservoir depletes. Beach also plans additional exploration opportunities identified in the vicinity of the Enterprise gas field. Exploration well #1-Enterprise was drilled from an onshore location about 3.5 km north of Port Campbell, Victoria, and was directionally drilled using extended-reach techniques. Beach Energy, based in Adelaide, is the operator of the block and Enterprise Field with 60% interest in partnership with O.G. Energy holding the remaining 40%.