On time and on schedule: Global Oil and Gas readies for Sasanof prospect drilling next week
The Valaris MS-1 rig is anchored in Western Australia’s Dampier outer harbour and is set for towing to the Sasanof-1 location on May 16.
Global Oil and Gas (ASX:GLV) says drilling operations will officially take off on May 24, once the rig is on location and anchors have been set.
The Sasanof Prospect covers an area of up to 400sq km and is on trend and up dip of Western Gas’ liquids rich, low C02 Mentorc Field.
ERCE estimates the Sasanof Prospect to contain a 2U Prospective Resource of 7.2 Tcf gas and 176 million bbls condensate (P501), with a high case 3U resource estimate of 17.8 Tcf gas and 449 million bbls condensate.
Sasanof is 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.
This will be Western Gas’ first well drilled from its extensive exploration portfolio surrounding the existing Equus Gas Project that contains a discovered resource of 2 Tcf and 42 MMbbl (2C Gaffney Cline2).
The Equus Gas Project has a historic exploration drilling success rate of 88%, with 15 discoveries from 17 wells.
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.