Quadrant Energy has installed the blowout preventer and drilled the Phoenix South-3 well off Australia past the 3,000-meter measured depth mark.
Quadrant is the operator of the Phoenix project off Western Australia with an 80% interest and Carnarvon Petroleum is its partner with the remaining 20% interest.
Carnarvon said on Friday that the 20” casing was set and cemented in place, the blowout preventer (BOP) installed and pressure tested. The company added that drilling began in a 17 ½” hole. The well is currently drilling ahead in 17 ½” hole at 3,114 meters measured depth.
According to Carnarvon, it will take around another week to finish drilling this section of the hole to approximately 3,700 meters after which a 13 5/8” casing will be set.
Also, a number of hole sections will be drilled prior to the primary Caley target section which is expected to be intersected at a depth of approximately 5,300 meters.
The primary objective for the Phoenix South-3 well is to evaluate the gas and condensate potential of the Caley Member within a large, faulted anti-clinal closure that was partially penetrated with the Phoenix South-2 well.
Phoenix South-2 encountered gas and condensate in the Caley Member but was unable to drill through and evaluate the formation. The Phoenix South-3 well has been designed to penetrate and evaluate the hydrocarbon bearing formations of the Caley Member.
Phoenix South-3 is located around 560 meters North-North East of the Phoenix South-2 well. 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).
The well is also expected to encounter sandstones within the Hove Member that may be hydrocarbon bearing.