Beach Energy has made an oil discovery at the Elliston-1 well in Cooper Basin, Australia.
The firm encountered an oil column with a 3m net pay in the Namur Sandstone section of the well, the second exploration well of three drilled in production licence 92.
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The preliminary volumetric assessment indicates the discovery of 100,000 barrels of recoverable oil.
The Elliston-1 reservoir has the potential to deliver strong flow rates, and is expected to come online in the fourth quarter of this year.
On completion of the evaluation programme, the firm will move the Ensign#30 rig to the Perlubie-2 appraisal well, which is located 4km to the south of Elliston-1.
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By GlobalData
