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Santos, Octanex spud Western Australia gas and condensate exploration well

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Santos (ASX: STO) and Octanex (ASX: OXX) have spudded the Winchester-1 exploration well targeting gas and condensate in the Dampier Sub-basin offshore Western Australia.

Winchester-1 is being drilled as a deviated well targeting the hydrocarbon potential of Triassic aged reservoirs mapped within a four-way dip closed anticline structural closure.

It is located on the northeast trending Parker Terrace, representing a structural high separated from the Rankin Trend to the east.

The Winchester prospect has been mapped previously by Woodside, who drilled Webley-1A in 1998 in a largely unsuccessful attempt to test the structure at depth.

In addition, the greater closure includes a tilted fault block intersected by Parker-1/ST1 well that was drilled in 1979 and intersected over 200 metres of elevated mud gas shows within the Triassic reservoir section.

Webley-1A did not reach the Triassic objective, leaving the horst structure untested. The well was abandoned due to operational difficulties related to over-pressured formations and shallow gas within closure above the deeper structure while operational issues that caused the premature abandonment of Parker-1/ST1.

Santos is free-carrying Octanex’s 25% interest in Winchester-1 under its farm-in to WA-323-P.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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