Beach Energy has initiated a major oil drilling programme for up to 26 wells located on the western flank of Cooper Basin, Australia.
The firm will conduct exploration and development for 16 wells including five exploration wells in PEL 91, seven exploration wells in PEL 92 and four development wells in the Parsons and Butlers oilfields.
Beach Energy expects to add up to four million barrels from the wells to its 66 million barrels of oil equivalent reserves base.
The first well, Parsons-3 in the Parsons oilfield, encountered a 9m oil column in the Namur sandstone and will begin production in one month after drilling is completed.
Beach Energy’s joint venture partner Senex Energy will carry out the exploration of the remaining ten wells located in PEL 104 and PRL15.
