Beach Energy Limited provides Operational Updates
Apr 2 15
Beach Energy Limited provided operational updates: Australia Cooper and Eromanga Basins: PRLs 151 to 172 (formerly PEL 91): The second fourwell pad drilling campaign was completed in the Bauer Field, targeting the highly productive Namur Sandstone reservoir and overlaying McKinlay Member. The Bauer20 to 23 pad wells were drilled approximately 10 metres apart at surface, with directional drilling commencing from depths of approximately 700 metres to reach target zones. Proximity of wells alleviated the need for rig demobilisation, allowing all wells to be drilled, cased and suspended in a total of 36 days. South Australian Gas: A ninewell development drilling campaign targeting the Coorikiana Sandstone in the Mudera, Marabooka and Strzelecki fields was completed, with drilling of Strzelecki30 and 31 and Marabooka16 undertaken during March. The fields are located approximately 35 kilometres south east of Moomba and have been producing gas since the early 1980s. Originally Toolachee Formation producers, recent field development resulted in the Coorikiana Sandstone becoming the main producing zone in the Mudera and Marabooka fields, with 3D seismic survey identifying the potential for Coorikiana Sandstone production in the Strzelecki Field. All nine wells in the program were cased and suspended, with gas pays encountered in line with expectations. Initial production rates from three connected wells are above predrill estimates. A twowell pad program targeting gas and gas liquids in the Patchawarra Formation and Tirrawarra Sandstone is being undertaken in the Narie Field. The field is located in the south western area of the Patchawarra Trough, approximately 40 kilometres north of Moomba. The Merrimelia 3D seismic survey enhanced understanding of the field and resulted in drilling and testing of Narie3 in early 2014. Encouraging flow rates and test results indicated good reservoir qualities and low levels of depletion, suggesting potential for further field development. Narie5 and 4 were drilled during March, with Narie5 cased and suspended as a future producer. Narie4 reached total depth and awaits resolution of a downhole mechanical issue prior to casing and suspending. Queensland Gas: A fourwell development and appraisal campaign is underway in the Barrolka Field, located approximately 55 kilometres north of the Ballera plant. The primary objective of the campaign is to convert undeveloped reserves on the main culmination to developed reserves. Barrolka15 and 17 are the second and third wells, respectively, of the campaign. Barrolka15 was cased and suspended as a future producer and Barrolka17, which spudded on 22 March 2015, is currently drilling ahead. Results to date have been in line with expectations and provided indications of potential for further field development. Exploration and Appraisal: Australia Cooper and Eromanga Basins: PRLs 151 to 172 (formerly PEL 91): The Stanleys1 oil exploration well in PRL 171 is located approximately 3.9 kilometres northeast of the Balgowan1 oil discovery and 3.5 kilometres southwest of the Spitfire Field. The well targeted the Namur Sandstone, with the McKinlay Member, midNamur Sandstone and Birkhead Formation as secondary targets. Stanleys1 reached total depth on 5 March 2015 with strong oil shows encountered through the Birkhead Formation. Wireline logs indicated a seven metre gross reservoir interval corresponding to the strong oil shows. A drill stem test over an interval from 1,713 metres to 1,724 metres (measured depth) recovered 23 barrels of oil over 117 minutes at a calculated rate of 280 barrels of oil per day. The well was cased and suspended as a future oil producer. PRLs 85 to 104 (formerly PEL 92): The Perlubie3 oil appraisal well, located in PPL 247, is targeting the Naumr Sandstone and appraising the northern area of the currently producing Perlubie Field. The well spudded on 30 March 2015 and is currently drilling ahead. Egypt: Abu Sennan Concession: The ASH1X ST1 oil exploration well reached total depth of 4,777 metres during the reporting period, with current focus on preparing tests in zones of interest. The ASA3 oil appraisal well spudded on 14 March 2015 and is currently drilling ahead at a depth of 2,578 metres. ASA3 is located 0.5 kilometres southeast from the ASA1 ST3 exploration well and is targeting the Abu Roash "C" and "E" formations.
Beach Energy Limited Appoints Mr. Colin Beckett as Non-Executive Director to its Board
Apr 1 15
Beach Energy Limited announced the appointment of Mr. Colin Beckett as a Non-Executive Director to its Board.
Beach Energy Seeks Acquisitions
Mar 19 15
Beach Energy Limited (ASX:BPT) is looking for acquisition opportunities. The unconventional gas assets would be part of a range of potential acquisitions the company would eye as it looked for opportunities to flex its strong balance sheet amid low prices.