Beach Energy has discovered a new oilfield at the Hanson-1 exploration well in PEL 91 on the Cooper Basin Western Flank, Australia.
The firm encountered a gross oil column of 7m, with 5m of net pay, in the Namur Sandstone section of the well.
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According to a preliminary volumetric assessment, up to one million barrels of recoverable oil (gross) with oil shows were also encountered over a 24m interval in the Birkhead Formation.
The firm has scheduled the Hanson-1 to be online in the third quarter of 2011, with transportation of oil from PEL 91 to be undertaken by truck in the short-to-medium term.
On completion of the evaluation programme, the Ensign#18 rig will be moved to the Snellings-1 exploration well, which is located about 1.5km north of Hanson-1.
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By GlobalData
