ConocoPhillips: Gas Shows at Grace-1 Well, Offshore Australia

ConocoPhillips has encountered ‘encouraging’ gas shows at its Graca-1 well, in the Browse Basin, offshore Western Australia.

According to Karoon Gas Australia , on 26 January 2014, Grace‐1 reached total vertical depth at 5069mRT. A zone of interest was encountered in the Jurassic volcanic interval at approximately 4,000mRT and a wireline logging program including pressure measurement and reservoir fluid sampling has commenced over the zone.

No Plover or Montara formation sands were intersected in the target zone. The zone of interest was identified from mudlog gas shows and elevated pressures encountered during drilling. The high gas levels and petrophysical logging while drilling responses were sufficiently encouraging to warrant further testing.

The wireline logging program is not yet complete and wireline pressure and sampling data is required before the presence of any gas column can be established.

Results from the wireline program are expected over the coming days.

Since the 21 st January 2014 Grace‐1 progress report, the 6‐1/2” hole section was drilled from 4,844mRT to the final total vertical depth of 5,069mRT.

Grace‐1 is the fourth well in the current exploration program, located in permit WA‐314‐P on a separate structural trend to the previously announced Greater Poseidon gas discoveries. The well is located in a crestal position on a large fault block approximately 35 kilometres north of the Poseidon field.

ConocoPhillips is the operator of the jointly held WA‐314‐P Browse Basin permit in which Karoon Gas Australia Ltd holds 90%. The Transocean Legend semi‐submersible rig is drilling the exploration well.