Beach Energy spuds Penneshaw-1 in South Australia

ADELAIDE, South Australia -- Beach Energy Limited and Cooper Energy Limited have announced that Penneshaw-1, an oil exploration well located in PR L 87 on the western flank of the Cooper basin, South Australia, spudded on Tuesday, Nov. 22, 2016 at 00:15 hours. At 06:00 hours, the rig was drilling ahead at 62 m in 12-1/4 in. surface hole.

Penneshaw-1 is 4 km east of Perlubie, and 4.5 km west of Christies field, and is being drilled to a total depth of 1,862 m in the Merrimelia formation. The well is anti cipated to complete within 12 days.

The primary target of Penneshaw-1 is the Namur Sandstone, which is the oil producing reservoir in several adjacent fields (Butlers, Callawonga, Parsons, Perlubie and Christies). The secondary targets of Penneshaw-1 are the Mid-Namur Sandstone, Birkhead formation and Hutton Sandstone, which are oil bearing in Christies and Silver Sands fields.

Following Penneshaw-1, the rig will move to drill Butlers-9, which will appraise potential oil volume in the undrilled northwest quadrant of Butlers oil field.

Cooper Energy Limited holds a 25% interest in PR L 87, with the balance held by the Operator, Beach Energy Limited.