Quadrant strikes pay off Western Australia
Australia The well was drilled to 4,050 metres without hitting water-saturated sands, and the partners plan to extend it to 4,550 metres to evaluate deeper oil deposits. Early estimates suggest the light oil discovered has an API gravity of about 49.6 degrees.
“This is a significant discovery given the quantum of the net pay thickness, the quality of the oil and the extremely good reservoir characteristics,” Adrian Cook, Carnarvon’s managing director, said in a statement. “With multiple targets still left, the focus now is to complete the drilling programme through the Baxter, Crespin and Milne members.”
Quadrant operates the development with an 80% interest, while Carnarvon holds the remaining 20% stake.
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