Quadrant Energy Ltd., Perth, has executed a contract with Transocean Ltd. for use of the GSF Development Driller-1 semisubmersible drilling rig for the planned Phoenix South-3 well in the Bedout basin offshore Western Australia.
The well, planned as a redrill of the Phoenix South-2 well that found natural gas and condensate last December, will be spudded February-April 2018.
Phoenix South-3 will be drilled nearby the earlier well and probe the prospective Caley sandstone reservoir, which has the potential to contain as much as 489 bcf of gas and 57 million bbl of condensate, Quadrant says.
The estimated gas-condensate ratio is based on surface gas sampling from a permeable section at the top of the Caley sandstone during drilling of Phoenix South-2.
Quadrant has an 80% interest and operatorship of the program. Carnarvon Petroleum Ltd., also of Perth, has the remainder.
