Phoenix South-3 well offshore W. Australia has the potential to strike for more hydrocarbons, according to Carnarvon Petroleum.
Carnarvon Petroleum, a partner of Phoenix South-3 well operator Quadrant Energy, said on Monday that the wireline evaluation program through the Caley Member was completed.
According to the company, hydrocarbons were observed from around 5,173 meters measured depth (MD) down to the lowest closing contour at around 5,304 meters MD within the Caley interval.
This range indicates a significant gross column of hydrocarbons of 131 meters were encountered in the well.
Carnarvon said that, since the well was targeting the Caley Member some 80 meters below the crest of the structure, there was potential for a larger overall hydrocarbon column.
The net reservoir from wireline logging was interpreted by Carnarvon to be around 16 meters with an average porosity of eight percent.
The sampling program was unable to extract hydrocarbons and hence determine the exact nature of the fluids encountered.
The results from wireline logging, including the sampling program, indicate the permeabilities are in the lower end of the range of expectations and evaluation of the reservoir core samples extracted are required to determine if the reservoir is capable of flowing at commercial rates.
Analysis to take months
Carnarvon added that the analysis of these cores was expected to take a number of months as well as the assessment of any contingent resources.
The Transocean-owned GSF Development Driller-1 semi-submersible rig is in the process of finalizing well operations, following which the drilling rig will be released.
The Phoenix South-3 well, located around 560 meters north-northeast of the Phoenix South-2 well, has been designed to penetrate and evaluate the hydrocarbon-bearing formations of the Caley Member.
The well will target a closure that is estimated by Carnarvon to contain a gross mean recoverable prospective resource of 489 Bscf of gas and 57 million barrels of associated condensate (being 143 million barrels of oil equivalent (boe), gross, Pmean).
To remind, Quadrant Energy noticed elevated gas readings last week during drilling operations on the Phoenix South-3 well, indicating the presence of hydrocarbons.