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Carnarvon Petroleum about to drill second appraisal well at Dorado oil & gas discovery

Dorado-3 well has been designed to enhance confidence in the subsurface characteristics and confirm reservoir productivity.

Noble Tom Prosser drilling rig
The Noble Tom Prosser drilling rig will be moved to Dorado-3 this weekend

Carnarvon Petroleum Limited (ASX:CVN) will begin drilling the Dorado-3 well to further appraise the Dorado oil and gas discovery on WA’s North West Shelf after moving the rig to the well location this weekend.

Dorado-3 is the second appraisal well of the Dorado oil and gas field which was discovered in 2018.

This well will be drilled about 900 metres northwest of the Dorado-1 discovery location with the Noble Tom Prosser rig used in the previous Dorado-2 appraisal well.

READ: Carnarvon Petroleum’s independent report confirms major Dorado oil & gas resource

The Dorado field is about 160 kilometres north-northeast of Port Hedland in the Bedout Sub-basin in water depth of around 95 metres.

Map of WA-437-P showing the Dorado field.

Dorado and Roc oil and gas fields reside in WA-437-P in which Carnarvon holds a 20% interest with the remainder held by Santos Ltd (ASX:STO).

The Dorado-1 exploration well discovered hydrocarbon-bearing reservoirs in the Caley, Baxter, Crespin and Milne members of the Lower Keraudren Formation.

Dorado-2 appraisal well, around 2.2 kilometres northeast of the Dorado-1 well, confirmed hydrocarbon-bearing reservoirs in the Caley, Baxter and Milne members.

Importantly, it also demonstrated connectivity within each reservoir between the two wells.

READ: Carnarvon Petroleum tagged as buying opportunity by Euroz

Dorado-3 has been designed to enhance the joint venture’s confidence in the subsurface characteristics and confirm reservoir productivity.

Most likely lithology section showing Dorado-3 down-dip of Dorado-1 and up-dip of Dorado-2.

The JV plans to conduct two, and potentially up to three, flow tests on Dorado-3 targeting the Caley, Baxter and Milne reservoirs, as well as acquire about 380 metres of full-bore core in these members as well as the Crespin Member.

This will result in a significant amount of new data to further characterise the Dorado field.

READ: Carnarvon Petroleum appraisal confirms major Dorado oil and gas resource, shares up

Quick facts: Carnarvon Petroleum Ltd

Price: 0.15 AUD

ASX:CVN
Market: ASX
Market Cap: $234.66 m
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Watch

Carnarvon Petroleum advancing Dorado and Buffalo projects

Carnarvon Petroleum Ltd (ASX:CVN) managing director Adrian Cook speaks to Proactive Investors following a successful $50 million capital raising last week. Cook discusses the Dorado project, detailing the company's plans and expectations for three wells. He also updates on the Buffalo...

on 18/2/19

2 min read