Santos operates PEL 513 with 60% stake while the remaining stake is owned by Drillsearch.
The Varanus South-1 well has been drilled to a total depth of 3,154m as a near-field exploration well and is the first well to be drilled by the Santos and Drillsearch, under the joint venture between the companies.
Drillsearch managing director Brad Lingo said: "This discovery represents an excellent start to our drilling campaign with Santos and highlights once again the prospectivity of this area for wet gas.
"We have an active program underway to commercialise the various wet gas discoveries in our portfolio and we look forward to working with Santos to bring Varanus South-1 into production."
The well is located 2.1km southeast of the Varanus field, which produces wet gas from the Patchawarra Formation, and 1.8km north of the Cooba field and 9.8km southwest of the Tirrawarra field, which both produce wet gas from the Patchawarra Formation and oil from the Tirrawarra Formation.
The South Australian Cooper Basin Joint Venture (SACBJV) owns the Varanus, Cooba and Tirrawarra fields.
Preliminary interpretation of wireline logs by Drillsearch has confirmed an aggregate estimate of 18m of net gas pay over a gross interval of 365m in the Patchawarra Formation as well as an additional 9m of net hydrocarbon pay over a gross interval of 37m in the Tirrawarra Formation.
The well has been cased and suspended as a future wet gas producer while the well results’ interpretation is underway.
The company is now scheduled to drill the Yarowinnie South-1 well, located 7km southwest of Varanus South-1 and 5.4km south of the SACBJV’s Andree-Leleptian gas field.
Image: Map showing Western Cooper wet gas project areas. Photo: courtesy of Drillsearch Energy Limited.
