Karoon, Conoco to Begin 2012 Browse Basin Drilling Program

Karoon Gas is expected to start its 2012 Browse Basin drilling program off Western Australia later this week.

The program, under which a minimum five wells are likely to be drilled, will better define the size and characteristics of the greater Poseidon structure.

The first well, Boreas-1 in WA-315-P, targets a large tilted fault block about 4 kilometres south of the Poseidon-1 gas discovery. Boreas-1 is expected to spud in a couple of days and reach total depth later in the first half of this year.

Second well, Zephyros-1  in WA-398-P that will be drilled on a large tilted fault block about 8 kilometres southwest of the Kronos-1 well.

The third well, Proteus-1, is located in WA-398-P on a large tilted fault block about 14 kilometres southeast of Poseidon-1. 

Additional well locations for the remainder of the minimum 5 well program will be announced as they obtain joint venture approval.  

The wells will be drilled by the Transocean Legend semi-submersible drilling rig.

The Poseidon field was discovered by the Poseidon-1 well in 2009 and has contingent resources of about 7 trillion cubic feet of gas in the Plover Formation sands.

Meanwhile, the Kronos-1 well intersected a separate formation from Poseidon-1 and flowed 26 million cubic feet of gas per day during drill stem testing.

ConocoPhillips is the operator of WA-314-P, WA-315-P and WA-398-P that contain the previously announced Poseidon and Kronos gas discoveries.