Quadrant contracted Transocean's semi-submersible mobile offshore drilling unit the Development Driller-1 for a 200-day, three-well campaign starting in the first quarter of next year, including Phoenix-South on the North West Shelf.

 

Quadrant's drilling forecast for 2018 also includes two Van Gogh infill wells.

 

"This key contract award further strengthens Neptune and Quadrant Energy's working relationship which has seen Neptune provide Quadrant with engineering, diving, ROV and survey services in the past 12 months," Neptune CEO Robin King said yesterday.

 

Phoenix South-3's primary objective is to evaluate the Caley interval that the Phoenix South-2 well drilled into but was unable to drill through and evaluate.

 

Phoenix South-2 drilling did, however, lift the Phoenix South Caley structure's estimates 32% to 489 billion cubic feet and 57 million barrels of condensate, thanks to increased pressure and a greater level of liquids within the gas discovered in that well.

 

The estimated condensate-to-gas ratio is considered very significant and is based on surface gas sampling from a permeable section at the top of the Caley Sandstone encountered while drilling the Phoenix South-2 well.

 

Quadrant's (80%) partner Carnarvon Petroleum (20%) said in its quarterly last week that preparations to re-drill the reservoir through the Phoenix South-3 well were "well advanced".

 

At the same time, Quadrant is working with its insurance underwriters to cover a significant portion of Phoenix South-3's cost based on well control initiatives needed during the Phoenix South-2 drilling.

 

Quadrant has been contacted about the other two wells for the three-well campaign for the Development Driller-1.

 

The Phoenix South-1 well discovered oil in the Barret interval of the Phoenix South structure, while gas and condensate were discovered within the Caley interval with Phoenix South-2.