Icon Energy provided an update in relation to the drilling of the Halifax 1 well in ATP 855P, located in the Cooper Basin, Queensland.
As of 23rd August 2012 the Ensign 916 rig has drilled the 12-¼ inch intermediate hole section to 2611 metres in the Nappamerri Formation, and has conducted wireline logging operations.
The forward plan is to run and cement the 9-⅝ inch intermediate casing.
Halifax 1, a vertical exploration well will evaluate the shale gas and basin-centred gas potential in the REM and Patchawarra Formation intervals within the Queensland portion of the Nappamerri Trough.
The Halifax 1 vertical exploration details:
“There is little reason why the 300 TCF plus of gas in place estimated for PEL 218, cannot be replicated in ATP 855P” , Icon Energy Managing Director Mr James said.
The financial terms of the farm-in will be the equivalent of those agreed previously with Beach to fulfil the terms of the Farmout agreement by funding the first $16 million relating to Halifax 1, or until the cost of completion, less a $1.75 million contribution from Icon Energy Limited.
[mappress] LNG World News Staff, August 23, 2012