Carnarvon Petroleum Limited (ASX:CVN) has drilled the Phoenix South-3 well on the North West Shelf to a measured depth of 4,619 metres and is preparing to run the 11-3/4 inch liner.
The well is the first drilled by Carnarvon and project operator Quadrant Energy at the Phoenix project offshore Western Australia seeking gas and condensate.
Using a semi-sub rig, this drilling is targeting the Caley Member at a depth of about 5,360 metres and this is also the target of a second well being prepared at nearby Dorado-1.
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At Phoenix South-3 the 12-1/4 inch hole section has been completed to 4,619 metres with the hole being prepared for the 11-3/4 inch liner.
Quadrant will then drill the 10-5/8 inch hole to about 5,160 metres measured depth.
A 9-5/8 casing will then be set before the 8-1/2 inch hole section is drilled to the top of the primary Caley Member section.
Objective to assess Caley Member
The primary objective for this well is to evaluate the gas and condensate potential of the Caley Member within a large, faulted anti-clinal closure partially penetrated with the previous Phoenix South-2 well.
This well encountered gas and condensate in the Caley Member but was unable to drill through and evaluate the formation.
Designed to evaluate formations
Phoenix South-3 has been optimally designed to penetrate and evaluate the hydrocarbon-bearing formations of the Caley Member.
The well is targeting a closure that is estimated to contain a prospective resource of gas and associated condensate equivalent to 143 million barrels of oil.
It is around 560 metres north-northeast of Phoenix South-2.
At the Dorado-1 well site, an Ensco-107 jack-up drilling rig is on site and being prepared for drilling.
Dorado is considered a probable gas prospect with significant associated condensate.
There is also the possibility for the structure to contain a substantial oil accumulation.
The Dorado structure at the Caley interval is estimated to contain a prospective gas and condensate resource equivalent to 125 million barrels of oil.
Multiple secondary targets have been identified in the Crispin and Milne members, and these will also be assessed by the Dorado-1 exploration well.