Project Profile
Value: Undisclosed
Location: Carnarvon Basin, offshore Western Australia
Reserves: 150mmbbl
Production: Unknown
Area: 1,212 km²
Water Depth: 645 km²
Start-up Year: 2012
The WA-359-P permit was granted by the Designated Authority on 1 February 2005 and comprises 15 graticular blocks (approximately 1,212 km² or 299,490 acres) in the Dampier Sub-basin portion of the Carnarvon Basin, offshore Western Australia. The WA-359–P permit is 100% held by Cue Energy Resources and covers an area of 645 km² in water depth of approximately 300m. WA-359-P is in the second year of a 5 year term granted in October 2012. The permit is fully covered by high quality 3D seismic data, processed to depth migration. 150mmbbl oil in place is estimated to be contained in the main prospect, Sherlock, with a primary target below base Cretaceous and a secondary target in the Triassic Mungaroo Formation. Follow up potential exists in a number of other leads. Late Jurassic and Triassic petroleum systems have been proven and a number of plays have been identified, which include horst blocks and footwall closures. Estimated dry hole costs are US$30-50m.
Ironbark Prospect
In August 2015, Cue completed a comprehensive regional study, including the creation of a seismic super-cube with 15,000km2 of 3D and 2D seismic data and 17 well ties. This has allowed Cue to map Triassic intra-Mungaroo sands (as encountered at the Gorgon gas field) on a regional scale and to define the Ironbark prospect, which straddles both WA-359-P and WA-409-P in moderate water depths. Ironbark is a giant, Mungaroo Formation prospect with multiple objectives. The structure is a simple NE-SW horst block with symmetric rollover, mapped as 140 - 400 km2 in area with a best technical estimate of more than 15 Trillion cubic feet (Tcf) of unrisked prospective gas resource based on internal technical assessment performed by Cue.
Operators:
Cue Energy Resources Limited: Operator with 20% interest
BP: 80% interest
Contractors:
Apache Corporation: Completed a 3D Seismic survey called Zeebries
Moby Oil & Gas Limited: Processing, mapping and interpretation phases of the survey
Subcontractors: