Beach Energy Limited (ASX: BPT, Beach) has announced a gas discovery at the Artisan 1 location in license VIC/P43 offshore the Victorian Otway Basin.
Artisan 1 was drilled to a total depth of 7,234 feet measured depth (MD) and penetrated the primary Upper Waarre Formation at 6,302 feet MD. The well was said to have intersected a gross gas column of 228 feet in the Upper Waarre Formation, including 206 feet of net gas pay. A gross gas column of 68.5 feet was also said to have been intersected in the secondary target of the Flaxman Formation from 6,242 feet MD, with net gas pay of 15 feet.
The well is now being cased and suspended as a future producer with an opportunity to tie into the offshore pipeline, currently delivering gas from the offshore Thylacine and Geographe fields to the Otway Gas Plant, Beach Energy noted.
“Beginning our Otway campaign with two exploration successes is a good result for Beach,” Beach Energy Managing Director and Chief Executive Officer, Matt Kay, said in a company statement, referencing the success of the Enterprise well in November 2020.
“While the Artisan discovery is at the lower end of pre-drill expectations, it is being cased as a future producer. Drilling operations have gone to plan and I want to commend the teams working on the Ocean Onyx for the successful start to the campaign,” he added.
Beach Energy holds a 60 percent operated interest in the Artisan 1 asset, with O.G. Energy holding the remaining 40 percent stake. Artisan 1 was spudded by the Diamond Offshore Ocean Onyx rig, which will move to the Geographe field after casing operations and commence the first of two in-field development wells before moving to the Thylacine field for an additional four in-field wells.
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