Beach Energy makes key finds offshore Australia

Australia

ADELAIDE, July 13, 2022 – Beach Energy has completed its offshore Otway Basin drilling campaign on the southern coast of Australia, the local IOC announced on Tuesday.

The seven-well campaign began in February 2021 and found one successful gas discovery at the Artisan field and six successful development wells at the Geographe and Thylacine fields.

The shallow-water Artisan well hit 67 metres of net gas pay, with maximum flow rate not yet tested.

The two Geographe wells were commissioned in the third quarter of the 2021/22 financial year and almost tripled average gas production at the onshore Otway Gas Plant to 3.74 mcm (132 mcf) per day in the fourth quarter of the 2021/22 financial year.

Once connected the four discovered Thylacine wells are expected to bring average production at the facility to 5.47 mcm (193 mcf) by mid-2023.

The Otway Gas Plant is connected to the wells via subsea pipeline.

The exploration project was the largest ever on the Otway Basin.

The project is operated by Beach Energy with a 60% share, along with partners O.G. Energy with the remaining stake.

The development is a step towards Beach Energy’s aim to hit production of 28 million boe per year in the 2023/24 financial year.