Apache resumes Carnarvon basin campaign

Apache Oil’s Laurel-1 well in Australia’s offshore Carnarvon basin has reached total depth without significant commercial discovery.

Offshore staff

NORTH SYDNEY, Australia -- Apache Oil’s Laurel-1 well in Australia’s offshore Carnarvon basin has reached total depth without significant commercial discovery. The well has since been P&A’d.

In permit T/2 in the same basin, again operated by Apache, the Ocean Shield rig is currently drilling the Barberry-1 well. Pan Pacific Petroleum, as one of three joint venture partners in the permit, opted not to participate in this well, which did not meet its risk/reward criteria.

However, PPP, Santos, and TAP do retain the right to participate in the event of a successful discovery, subject to back-in penalties.


07/13/2010

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