Australian-based Origin Energy has spudded the Beetaloo W-1 well in EP117 in the Northern Territory’s onshore Beetaloo basin.
The company is the operator of the Beetaloo joint venture (JV) and has a 35% stake.
The Beetaloo W-1 well is the fourth of five Stage 1 wells and the exploration permit is located 500km south-east of Darwin.
Other partners in the Beetaloo JV are Sasol Petroleum Australia (35%) and Falcon Oil and Gas (30%).
The Proterozoic and Cambrian age tight oil and gas Beetaloo basin is well suited for unconventional oil and gas projects.
Falcon holds a 30% interest in 4.6 million gross acres within exploration permits 98, 76 and 117 covering the majority of the basin.
The company completed the farm-out agreement and joint operating agreements with Origin Energy on 21 August 2014 and Sasol Petroleum, each farming into 35% of Falcon’s exploration permits in the basin.
After the agreement concluded, Falcon received A$20m ($14.9m) cash from the company, following which Origin was immediately appointed as operator.
Origin and Sasol were confirmed to carry on a nine well exploration and appraisal programme between 2015 and 2018.
The programme included three vertical exploration / stratigraphic wells and core studies, one hydraulic fracture stimulated vertical exploration well and core study, one hydraulic fracture stimulated horizontal exploration well and four hydraulic fracture stimulated horizontal exploration / appraisal wells.
