The Beehive 3D seismic program in the Bonaparte Gulf, funded by Santos Ltd. and Total SA as part of farm-in obligations to obtain an option to drill in Melbourne-based Metana Energy Ltd.’s WA-488-P permit, has been completed and evaluation has begun.
The survey was extended by about 100 sq km (16%) to cover an additional, newly identified lead called Egret that is partially within the permit boundary.
Santos and Total now have a 6-month option from the time of receipt of the processed data to drill a well in the giant Beehive structure that lies immediately southeast of Eni SPA’s producing Blacktip gas field.
Beehive is billed as one of the largest undrilled prospects in Australia.
The survey acquisition area of 600 sq km lies 225 km west-southwest of Darwin, 65 km from the closest land (Cape Domett in Western Australia), and 60 km from Yelcher Beach in the Northern territory. Water depths vary from 30 m to 50 m.
Santos and Total have the option, together or individually, to acquire a direct 80% participating interest in WA-488-P in return for funding the cost of all activities until completion of the first well in the permit.
In the event of a commercial discovery, Melbana Energy will repay carried funding from its share of cash flow from Beehive field.
The Beehive prospect is a Carboniferous-age carbonate structure some 18 km across and a mapped 400 m of vertical relief. The play type is new and unexplored in the Bonaparte basin. It is in 40 m of water with conditions suitable for drilling with a jack up rig.