Antrim awards Peak Group drilling management project off Australia

By OGJ editors

HOUSTON, Jan. 23 -- Antrim Energy Inc., Calgary, has awarded a drilling management contract to the Peak Group, London, for Antrim's first offshore exploration well on the North West Shelf off Australia (OGJ Offshore, Dec. 1, 2003). Antrim and Peak plan to finalize well planning and rig contracting immediately.

The well, South Galapagos No.1, will be drilled later this year in 345 m of water to 3,775 m TD on Permit WA-306-P in the Barcoo subbasin. The prospect is 200 km southwest of Brecknock and Scott Reef fields, which have a combined 20 tcf of gas and 300 million bbl of condensate recoverable.

Antrim, which is financing 100% of well costs, is operator of WA-306-P with an 87.5% ownership interest. Magellan Petroleum (WA) Pty. Ltd. holds the remaining 12.5%. The two companies equally share the working interest in adjacent permit WA-307-P.

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