Australia's Santos Ltd. said on Oct. 8 results from a closely watched appraisal well showed its Dorado field in Western Australia could produce at the higher end of expectations.
Excitement over the Dorado field, Australia's biggest oil find since 1996, has spurred an exploration revival off northwestern Australia that could drive a resurgence in production that has fallen to a near 50-year low.
Santos said drilling had indicated "very high potential flow rates" of around 30,000 barrels per day from each single well in the Caley reservoir of the Dorado field, a result that Chief Executive Kevin Gallagher called "extremely positive."
"This positive result represents a significant step in progressing Dorado as one of Santos' most exciting new development projects," he said in a statement.
Santos owns an 80% stake in Dorado and is operator, after having acquired Quadrant Energy in 2018, while Carnarvon Petroleum owns a 20% stake.
2022-09-19 - Associated gas is a crucial part of meeting the growing energy demand as the U.S. amps up its exports.
2022-07-22 - The U.S. oil and gas rig rose two to 758 from the week prior, marking an increase in rig counts for the third week in a row.
2022-09-23 - U.S. oil rigs rose three to 602 this week, while gas rigs fell two to 160. The total rig count fell in August and was on track to fall again in September after rising for a record 24 months in a row.
2022-09-20 - Here’s a roundup of the latest E&P headlines including a new EIS for a project in Australia to contract awards around the globe from the past week in the upstream oil and gas industry.
2022-08-09 - The MEAs program recognizes new products and technologies designed by companies and people who understand the need for newer, better and constantly changing technological innovation to appease the energy-hungry world.