Global kicks off potentially company-making Sasanof-1 exploration well

Global and its partners have spudded their high-impact Sasanof-1 well in the offshore Carnarvon Basin that targets about 7.2 trillion cubic feet of gas and 176 million barrels of condensate.

The Valaris MS-1 semi-submersible rig is drilling the well, which is currently at a depth of 2,030m, and will be drilled through the target reservoir at total a depth of 2,500m.

Global Oil and Gas (ASX:GLV) expects to drill through the target reservoir – a large, seismic amplitude supported, structural-stratigraphic trap in the high-quality reservoir sands at the top of the Cretaceous top Lower Barrow Group formation on the Barrow Delta within the Exmouth Plateau – between June 2-5.

Sasanof-1 is the first well that operator Western Gas is drilling from its extensive exploration portfolio surrounding the existing Equus gas project, which has a historical exploration success rate of 88%.

Success will certainly go a long way towards unlocking the rest of the exploration portfolio.

This article was developed in collaboration with Global Oil and Gas, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.