OIL

Fairbridge so far looks doubtful: Cooper Energy

PRODUCTION tests over two zones in the Fairbridge-1 well in Cooper Basin permit PEL 100 have fail...

Fairbridge so far looks doubtful: Cooper Energy

Following these unsuccessful results in the Upper and Lower Poolowanna formations, the rig is now preparing to run completion string over the remaining prospective zone in the Birkhead Formation. Cooper said it expected this third test would occur later this week.

Drilled in January, the Fairbridge-1 well was cased and suspended for future production due to the non-availability of equipment and personnel. However, at the time, operator Cooper Energy was uncertain if the well would produce commercial hydrocarbons.

Fairbridge-1 is about 4km west of the Keleary oil field and 80km north of Innaminka.

Interests in Fairbridge-1 are operator Cooper Energy, which holds a 38.33% stake, Sundance Energy (41.67%) and Enterprise Energy (10%), as well as US companies McElvain (5%) and Liberty Petroleum (5%).

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