Quadrant Energy spuds Levitt-1 well

Karoon Gas Australia Ltd has announced the beginning of the high impact Levitt-1 exploration well in WA-482-P Carnarvon Basin, offshore Western Australia.

Karoon has a material 50% equity interest in WA-482-P and is carried for 90% of the cost of the well. Joint venture partner, and operator Quadrant Energy Australia Ltd has the remaining 50% interest.

The rig was mobilized to its drilling location on July 1, 2015. According to Karoon, Levitt-1 spudded at 12.30 AEST on July 4, 2015. The shallow hole section has been drilled 73 metres, in a water depth of 1,163 metres to the current depth of 1,262 mRT and the conductor casing has been set. Karoon added that preparations are underway to start drilling in the 17-1/2” hole section later today, July 6, 2015.

The Ocean America semi-submersible drilling rig is being used to drill the well which is targeting a net unrisked prospective resource best estimate of 110mmbbls (gross 220mmbbls)1. Total depth is expected to be reached during early August.

Levitt-1 is designed to test the presence of a working petroleum system generating from the Wigmore sub-basin. The sub-basin contains a significant thickness of Jurassic source rocks of the same age as those known to charge petroleum accumulations elsewhere in the Basin. The well is located to evaluate the deeper North Rankin and the shallower Legendre formations which are expected to receive hydrocarbons migrating from the oil mature source kitchen. A successful result would open up a new exploration play in the Carnarvon Basin, Karoon concluded.

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