Sign up Australia
Proactive Investors - Run By Investors For Investors

Carnarvon Petroleum’s partner to drill Dorado-1 well

The Dorado-1 well will be exploring for significant gas and condensate volumes.
Project map showing off-shore Western Australia
The Phoenix Project is located offshore Western Australia

Carnarvon Petroleum’s (ASX:CVN) partner Quadrant Northwest Pty Ltd has signed a contract to drill the Dorado-1 exploration well within the Phoenix Project located offshore Western Australia.

The Dorado-1 exploration well has a number of large targets.

The primary target is the proven Caley Sandstone which Carnarvon estimates to contain a mean prospective resource of 545 billion cubic feet of gas and 31 million barrels of condensate.

The Milne Sandstone is a secondary target which may contain up to four additional sands of a similar size, albeit with a slightly higher risk.

The Dorado-1 well is expected to commence around May 2018 while the Phoenix South-3 well is expected to commence around March 2018. Rigs have now been secured for both wells.

Adrian Cook, managing director, commented: “The results of our 2018 drilling program are expected to be important contributors to our knowledge of the Bedout sub-basin and its near term commerciality.

“2018 will be an exciting time with the Phoenix South-3 well evaluating the gas and condensate already discovered in the nearby Phoenix South-2 well, while the Dorado-1 well will be exploring for significant gas and condensate volumes over multiple reservoir sands only some 15 kilometres from the highly successful Roc-2 well.”

The Dorado-1 well is located within the WA-437-P exploration permit, which Carnarvon has a 20% interest in alongside partner and operator Quadrant Northwest.

The contract was signed with ENSCO Australia Pty Ltd and the Dorado-1 exploration well will be drilled using the ENSCO-107 jack-up drilling rig.

View full CVN profile View Profile

Carnarvon Petroleum Ltd Timeline

Related Articles

onshore drilling operation
October 23 2017
The hotly anticipated Opuama-7 well appears to have been a success and the company is now advancing plans to drill more new wells at the Opuama field
Lekoil oil field development operations at Otakikpo project
February 20 2017
Otakikpo will now be ramped up from 5,000 bopd to 10,000 bopd over the coming months.
oil and gas operations
October 05 2017
Sound Energy is stripping out its Italian assets as it continues to focus on new Moroccan programmes

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use