Apache is targeting accumulations of 20-100 million barrels. West Triton will complete three wells for Apache in shallow water in the south of the basin before being released to other operators.
The first of these three will target the Wasabi prospect in 35m of water in Apache's 100%-owned Vic-P58, a large permit adjacent to the Gippsland coast on the basin's southwestern edge.
The well has dual objectives – structural closures in the Top Latrobe formation and at the Golden Beach level. Apache sees the potential for stacked pay zones such as these as one of the basin's main attractions.
The second well in the program will be at the Coelacanth prospect targeting the Top Latrobe horizons in VIC/P45 where Apache is earning a 67% interest in the permit from Moby Oil & Gas and Exoil by funding two wells.
VIC/P45’s northern edge is only 2km east of Australia’s largest oil field, Kingfish, and is close to several other Esso-BHP producing oil and gas fields.
Apache's third well will be a farm-in well in Vic-P42, which is also adjacent to Kingfish and is between the VIC/P58 and VIC/P45 permits.
In this permit, Apache is acquiring its stake from Bass Strait Oil Company. Following the farm-in, Apache will have 60% in the block, while Bass Strait Oil and the remaining partner Inpex will have 20% each.
The final VIC/P42 drill prospect will be selected using new mapping based on state-of-the-art 3D seismic data, according to Bass Strait Oil.
“Site surveys, which ensure safe seafloor conditions for the drilling rig, have already been conducted over a short-list of three potential VIC/P42 targets,” the junior explorer said, which will be free-carried through the drilling.
The permit already holds the Zane Grey and Omeo gas and condensate discoveries, which are not commercial but could be developed if other finds are made in the area.
According to Bass Strait Oil, the permit has a strong inventory of prospects and leads, which is being expanded and refined as mapping of the new seismic data becomes available.
The 503 square kilometre ‘Marie’ 3D seismic survey recorded by Apache in April 2007 as the first phase of its Vic-P42 farm-in complements Bass Strait Oil’s 2002 3D survey and completes 3D coverage across the prospective area of the permit.
The Marie data is being processed to pre-stack depth migration [PSDM] to correct distortions created by complex geological structures.
“The use of PSDM is significant in this area of the Gippsland Basin, where exploration history shows that the depth calibration of seismic maps is critical,” Bass Strait Oil said.
“Apache is also integrating the PSDM reprocessing of the 2002 3D data, together with a new Bream field 3D survey, which has been acquired by trade with Esso-BHP. Integration and mapping of these surveys, and the use of PSDM processing, will give VIC/P42 the best chance of drilling successful wells.”
Following its West Triton wells, Apache will use the Ocean Patriot semi-submersible when it arrives mid-year to drill another eight wells, mostly in VIC/P59 on the basin's southeastern margin.
