The group reported the presence of moveable hydrocarbons indicated by petrophysical log interpretation, formation pressure gradients, and downhole gas sampling.
Karoon’s assessment shows a 53-m gross gas interval with 34 m of net pay in the well, which was drilled to a total depth of 5,220 m.
Wireline logging operations are still under way; these will be followed by a full production test.
Pharos-1 is the sixth and final well in Phase 2 of the group’s Browse basin drilling campaign to evaluate the Greater Poseidon area.
Pharos prospect is 9 km northeast of Proteus-1 and was drilled as a further evaluation of the Proteus-Crown trend. The well targeted an extension of the Proteus discovery, which established good reservoir quality and condensate-bearing gas in the Montara formation.
Operator ConocoPhillips used the Transocean Legend semisubmersible for the Pharos well.
ConocoPhillips holds 60% interest and Karoon, 40%.