Cooper Energy said wireline logs indicated a roughly 12m gross oil column (about 9-10m net) in high porosity Namur formation sandstones, while the operator, Beach, said the field was likely to contain more than 1 million barrels of recoverable oil.
Nelson said the reservoir quality encountered in Parsons-1 was “excellent” and could be better than that found in the Callawonga field, where recent wells have flowed at 5000 barrels of oil per day.
Parsons is close not only to the two companies’ Callawonga field, but also to the Christies and Sellicks finds. All four discoveries are on the western Cooper Basin’s West Patchawarra flank, an area virtually ignored by earlier explorers that is now becoming recognised as a significantly productive area in the Basin.
“This latest discovery confirms our belief in the potential of this under-explored region of the Cooper-Eromanga Basins,” Beach managing director Reg Nelson said.
“The region now deserves recognition as a significant oil sub-province of the basins.”
Victoria Petroleum has also had success in exploring this region of the twin basins in PELs 104 and 115, and Beach and partner Great Artesian Oil & Gas are planning to drill two western flank exploration wells in PEL 91 early next year.
On finalisation of the Parsons-1 wireline logging program, the well will be completed as a future oil producer.
Beach said a connection would be established to the Callawonga pipeline for ultimate delivery to Port Bonython.
“The size of the Callawonga field and the deliverability of its wells, has been sufficient to encourage us to build a new pipeline to deliver oil to the Moomba processing facility, and thence to Port Bonython,” Nelson said.
“Callawonga alone is expected to deliver around 5000 barrels of oil a day to markets on completion in the next month or so. Its role as a trunkline from the West Patchawarra Flank directly to markets is now assured and the costs of transport will now be reduced significantly.”
This pipeline is currently being constructed and on schedule for completion and commissioning early next year.
