Quadrant Energy is in the final stages of evaluating tenders for a semisubmersible to drill the Phoenix-3 South well offshore Western Australia in early 2018.
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| Source: Carnarvon Petroleum |
The Phoenix South-3 well is being designed as a redrill of the Phoenix South-2 well that discovered gas and condensate at the top of the Caley interval. Phoenix South-3’s main objective is to evaluate the Caley interval that the Phoenix South-2 well drilled into, but was unable to drill through and evaluate, partner Carnarvon Petroleum said in a 29 June Australian Stock Exchange announcement.
The Phoenix South-3 well will be drilled close by the Phoenix South-2 well, which is located within the WA-435-P exploration permit in the Northwest Shelf of Australia. The Phoenix South Caley structure is estimated to contain a gross mean recoverable prospective resource of 489Bscf of gas and 57mm barrels of associated condensate (143mmboe, gross, Pmean).
The majority of well drilling costs for Phoenix South-3 could be covered if Quadrant and Carnarvon’s cost recovery claims filed under their respective insurance policies prove successful.
“This is a significant resource base and especially so when combined with the Roc resource,” Adrian Cook, managing director of Carnarvon, in the statement. The estimated condensate-to-gas ratio (CGR) is very high, which adds a great deal of value to the project. The CGR is based on surface gas sampling from a permeable section at the top of the Caley Sandstone encountered while drilling the Phoenix South-2 well.
Quadrant also has decided to delay drilling the Dorado-1 well until mid-2018 due to limited jackup availability in the second half of this year, as well as the significant cost savings and more efficient well operations that could be realized by aligning Dorado-1 with Quadrant’s 2018 drilling plans. This move also would minimize exposure of drilling operations to the local cyclone season.
The Dorado-1 well will target multiple stacked reservoirs within the Caley interval. Carnarvon stated that the top sand alone is estimated to contain a gross mean recoverable prospective resource of 545 Bscf of gas and 31 million barrels of associated condensate.
Front-end engineering and design work in underway on determining the best concept for developing the Phoenix area’s hydrocarbon resources. This work includes detailed reservoir modelling at Roc to determine the ideal development of this structure.
“Based on this work, the northern extent of the Roc reservoir will be a focus to provide greater certainty on the gas and condensate resource and ultimately support the reclassification of volumes into the more robust proved category for making a final investment decision,” Carnarvon stated. If Dorado and Phoenix South resources are matured to economic resources, they could be included as tie-backs to the Roc development.
In late 2016, Quadrant confirmed a successful well test from the Roc-2 well, offshore Western Australia, that indicates significant potential in a largely unexplored area.
Quadrant is operator and 80% equity interest holder in Phoenix South. Partner Carnarvon holds the remaining 20% interest.
Read more:
Carnarvon ups Phoenix South estimates by 32%
Quadrant completes Phoenix South-2 operations
Quadrant starts at Phoenix South-2
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