Carnarvon, Quadrant hail further Dorado pay
Australia Further oil discoveries in the Crespin and Milne Members and a gas find in the Baxter Member have increased the net thickness of hydrocarbons deposits encountered in the well to 132 metres, the statement added.
“With drilling and evaluation of the Dorado-1 well now completed, Carnarvon’s assessment of the hydrocarbon volumes associated with this discovery is now well underway,” the company’s managing director, Adrian Cook, said. “The hydrocarbon volumes will be announced to shareholders and investors as soon as possible.”
Quadrant operates the permit with an 80% stake in it. Carnarvon holds the remaining 20%. The discoveries are likely to turn both partners into lucrative takeover targets, Reuters reported separately.
Recent Posts
UK allows oil exploration in North Sea wind project zones
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil closes acquisition of Pioneer, creating Permian powerhouse
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy enters Namibia’s Orange Basin
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Chariot starts gas drilling campaign in Morocco
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone acquires Trinidad E&P player Trinity
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil “optimistic and pushing forward” with Mozambique’s Rovuma LNG
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More