Quadrant Energy's Phoenix South-2 well offshore the NorthWest Shelf of Australia on the Caley prospect has made a gas and condensate discovery, according to partner Carnarvon Petroleum.
The well, in permit WA-435-P, drilled an estimated 39m hydrocarbon-bearing zone between about 5176m and 5215m, with significant gas influx and elevated reservoir pore pressures.
The well was unable to assess as much as 185m of additional potential hydrocarbon bearing Caley reservoir beneath 5215m, due to the higher than anticipated pressures being encountered.
The higher pressures mean a different well bore design from that used in the current well is needed to drill further, says Carnarvon, so the well will be stopped.
Carnarvon’s Managing Director and CEO Adrian Cook said: "The extent of the increase in reservoir pore pressure observed while drilling into the Caley formation could indicate a hydrocarbon body larger than any that we have previously encountered in the basin and even larger than we were expecting pre-drill.
"We’ve taken another very important step in unlocking this new basin and we certainly look forward to further clarifying its potential as our forward work programs are finalized. In the near term, we will work with the operator on the next phase of drilling in this and the other target structures in our Phoenix and Roc permits. The Carnarvon team will also take the opportunity to update the resource estimates for the Caley sandstone with this new information."
Equity interest holders in Phoenix South are: Carnarvon Petroleum 20%; Quadrant Energy (operator) 80%.