Project Profile
Location: PL 214, South West Queensland, state of Queensland, Australia
Production: 1,500 bopm
Area: 220 km² (the whole PL 214)
Start-up Year: 2013
Bridgeport with 100% interest (through Oil Wells Inc of Kentucky a wholly owned subsidiary) is the operator of PL 214, which covers an area of 220 km² and remains active to April 2026. The Utopia oil field, which is wholly contained within the boundary of the PL 214 production licence, is producing from the seven wells currently online. Oil is produced by artificial lift (beam pump) to a central storage area where it is separated and crude oil stored in tanks. Road tankers are contracted to take the crude to the Eromanga oil refinery where it is sold at the refinery gate. Eromanga is approximately 40 km northwest of the field.
Shortly after Bridgeport acquired the Utopia oil field in 2009, the company carried out a 3 well development drilling program. Based on data acquired during drilling, a thorough review of the proved plus possible reserve estimates of the Utopia oil field was completed. This work highlighted the existence of possible reserves (3P) in the eastern extension of the field.
In addition to the 2P and 3P reserves, significant upside in the form of possible reserves and exploration potential has been identified in the licence area. To further the appraisal and development of the oil resource in PL 214, a 90 km² 3D seismic survey was acquired in the first quarter of 2011. The Utopia 3D seismic data is providing the basis of a re-evaluation of the field\'s resource potential. It is also assisting us to define the appraisal and development plan for the Inland oil field and accurately position development wells prior to the next phase of drilling. The reservoir is at 1,000 metres which makes for comparatively cheap drilling and completions. The partners are looking for ways of reducing drilling costs substantially. The next development well, Utopia 11H, will utilise a short horizontal leg into the reservoir to see if this method of development will enhance productivity within this low permeability reservoir.
Operators:
Bridgeport (through Oil Wells Inc): Operator with 100% interest