Western Gas says Sasanof-1 off WA fully funded
Sydney-listed Western Gas has secured funding commitments to fully fund the drilling of the Sasanof-1 exploration well on Western Australia’s North West Shelf, it said on March 15 in a statement.
Together with the existing committed funding from its joint venture partners Global Oil & Gas and Prominence Energy, the drilling programme is now fully funded. Western Gas’s funding maintains its working interest in the Sasanof prospect at 62.5%, with Global Oil having a 25% working interest and Prominence 12.5%.
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Western Gas and Valaris, the owner and operator of the MS-1 semi-submersible drill rig, are progressing plans for the mobilisation of the rig to start drilling of Sasanof-1 in May.
Sasanof has a 2U prospective resource of 7.2 trillion ft3 gas and 176mn barrels condensate, with a 32% geological chance of success, Western Gas said. Sasanof-1 will be Western Gas’ first well drilled from its extensive exploration portfolio surrounding the existing Equus gas project.