Apache to begin drilling Phoenix South-1 off WA

May 20, 2014

Atwood Oceanics' Atwood Eagle semisubThe Atwood Eagle semisubmersible drilling rig has been mobilized to the Phoenix South-1 well location within the WA-435-P exploration permit, off Western Australia. Perth-based partner Carnarvon Petroleum Ltd. said that operator Apache Energy Ltd. will spud the Phoenix South-1 exploration well around 24-25 May.

The Phoenix project is on Australia's northwest shelf, in the Roebuck basin.

According to Atwood Oceanics' fleet status report, Apache Energy has a fixed-term contract for the Atwood Eagle through June, at $385,000/day.

Apache Energy and JX Nippon are earning 40% and 20% interest in the permit, respectively, by drilling the well to 4500m.

The equity interest holders (upon satisfaction of the farm-in agreement terms) are:
Apache Energy 40%; Carnarvon Petroleum 20%; JX Nippon 20%; and Finder Exploration 20%.

Read more:

Apache defers spud date, 9 January 2014

 



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