Karoon Spuds Bilby-1 Well Offshore Brazil

Karoon Spuds Bilby-1 Well Offshore Brazil

Australia’s oil and gas exploration company Karoon has started the drilling of its third Santos Basin exploration well in Brazil, with the spudding of the Bilby‐1 exploration well at 05:03 hours Brazilian Summer Time on 7 April 2013.

Bilby‐1 is located within Block S‐M‐1166 and S‐M‐1037, and has multiple targets at several geological levels, including the Santonian, Campanian and Eocene. The well is expected to continue into May 2013 with results being released as they become available.

Upcoming Well Program

Completion of the three Santos Basin wells will satisfy the minimum work commitments for Block S‐ M‐1101, S‐M‐1102, S‐M‐1037, S‐M‐1165 and S‐M‐1166.

Karoon is currently working to acquire a rig to drill an appraisal well, Kangaroo‐2, as soon as possible.

The Kangaroo‐2 appraisal well will target the structure updip of the Kangaroo‐1 well with the aim of intersecting a more significant oil column and additional sandstone reservoirs within closure for reservoir evaluation and production testing of the field. Karoon has initiated contractor  negotiations, long lead item procurement, pre‐drilling location assessment and regulatory approval application documentation.

 

[mappress]
Press Release, April 8, 2013