Project Profile
Value: Undisclosed
Location: PEL 218, Cooper Basin, Australia
Reserves: 60 trillion cubic feet of recoverable sales gas
Production: 2.2 MMscfd (Halifax-1), 2.1 MMscfd (Encounter-1 and Holdfast-1)and invaluable National asset hosting hydrocarbons and water reserves of the Great Artesian
Start-up Year: -
A geological legacy of marine flooding of the central Australian continent during the Mesozoic Era Basin. ADE acquired 219 kilometres 2D seismic in 2008. The Eromanga Basin contains the oil prospective Namur and Hutton sandstone reservoirs. High heat flows ensure organic material has entered the generative oil window. Numerous anticlinal plays have been identified and 3 matured to Prospect status. Farm-in partners drilled the first Eromanga well in PEL 218 in 2009 Wakefield 1 oil shows and potential coal seam gas prospects were identified and are currently being evaluated. The 2008 Wakefield Seismic Survey acquired 219 km 2D seismic to delineate additional plays in the permit. ADE has met all obligations in PEL 218 under Native Title agreements and Work Area. Clearance to protect sites of cultural significance. A major shale gas drilling program is currently underway into the Permian section.
Operators:
Beach Energy: Operator with 70% interest in PEL 218 and 46.9% interest in ATP 855
Icon Energy: 35.1% interest in ATP 855
Adelaide Energy (Previously known as Deka Resources): 10% interest in ATP 855
Chevron: 30% working interest in PEL 218 and 18% working interest in ATP 855
On completion of the drilling of Wakefield-1 and the execution of assignment documentation, the Parties, will be entitled to the following working interests in the Post Permian strata (Post Permian Joint Venture) of PEL 218:
- Icon Energy Limited: 33.333%
- Beach Energy Ltd: 23.333%
- Bounty Oil and Gas Ltd: 23.284%
- Adelaide Energy Ltd: 15.025%
- Well Traced Pty Ltd: 5.025%
Contractor:
Ensign Energy Services Inc.: Drilling contractor for Ensign#65 and Ensign#16, Nappamerri Trough
Condor Energy Services: Hydraulic stimulation and testing program contract which is due to commence in early September 2014
DeGolyer and MacNaughton (D&M): Review of contingent resources in ATP 855. D&M was engaged to evaluate well results from the Nappamerri Trough Natural Gas (NTNG) program following completion of the fourwell fracture stimulation and flow testing campaign undertaken in ATP 855 in the latter half of 2014