Beach Energy, Cooper Energy Spud Otway Basin Unconventional Oil, Gas Well

Cooper Energy and Beach Energy have announced spudding of Jolly-1, the first of two deep wells targeting the Casterton Formation within the Penola Trough of the onshore Otway Basin, Australia.

The primary objective of Jolly-1 is to assess the unconventional oil and gas potential of shales within the Casterton Formation through drilling to a prognosed total depth of 4,000 metres and collecting over 100 metres of conventional core, Beach said in a statement.

It is anticipated that the well will intersect the Casterton Formation approximately 1,000 metres deeper than Sawpit-2, which was drilled to a total depth of 2,585 metres in March 2013.

Jolly-1 is within South Australian exploration permit PEL 495 6.5 kilometres south south-west of Sawpit-2, which was drilled in 2013.

Participating interests in the PEL 495 and PRL-32 are: Cooper Energy (30%) and Beach Energy (70% and Operator).

Sign-up for our free weekly newsletter update via email here