Beach Energy has discovered new oil at Bauer-1 well in PEL 91, and at Rincon-1 well in PEL 92, located in the Cooper Basin, Australia.
The Bauer-1 well has encountered a gross oil column of 15m, with 13m of net pay, in the McKinlay / Namur Sandstone section of the well.
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According to the firm’s preliminary volumetric assessment, the potential of the discovery could be in the order of 2 million barrels of recoverable oil.
The Rincon-1 well has encountered a gross oil column of 5m, with 4.5m of net pay, in the McKinlay/Namur Sandstone section of the well.
The preliminary volumetric assessment indicates the potential discovery of up to 500,000 barrels of recoverable oil.
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By GlobalData
