Senex Energy has discovered a new oil field on the western flank of South Australia’s Cooper Basin.
The company stated that the Mustang-1 oil exploration well in PEL 111 achieved "excellent flow rates" during drill stem testing with oil flow measuring at surface at a rate of 2,484 barrels per day.
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Mustang-1 oil reached a total depth of 2,123m and confirmed the presence of excellent quality reservoir with highly permeable oil filled sands.
The drill stem test, conducted between 1,784m and 1,791m, saw continued flow at the surface, recovering 34.5 barrels of 45.4 degree API oil with no water after a 20 minute flow.
Wire line logs identified a 4.5m gross oil column in the oil-bearing sands of the mid-Birkhead Formation over the interval with interpreted net oil pay of 4.0m.
Senex Energy managing director Ian Davies said the exploration success at Mustang-1 has significantly exceeded the company’s expectations.
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By GlobalData"To achieve a free flow production rate of almost 2,500 barrels of oil per day is an outstanding result, and is analogous to the excellent results seen at the highly productive Growler oil field," Davies added.
Mustang-1 will be cased and suspended as a future oil producer.
