PetroFrontier, Statoil Spud OzBeta-1 in Northern Territory

PetroFrontier Corp has announced that the second well in its 2014 work plan, OzBeta-1, has now spud and drilling is underway.

The OzBeta-1 well is a vertical exploration well located in Exploration Permit 127 in Australia's Northern Territory. This is the second of up to five vertical test wells to be drilled as part of the 2014 work plan.

All wells will include an extensive open hole evaluation program and up to three of the wells will be cased for future hydraulic fracture stimulation and production testing, the company said.

Prior to the spud of the OzBeta-1 well, Statoil Australia Theta, PetroFrontier’s joint venture partner and the operator, used the rig to successfully abandon the Owen-3H well in accordance with Australian regulations.

Subsequent to drilling the OzBeta-1 well, the rig will be moved to the third well location of the five well program, OzGamma-1, located in Exploration Permit 103.