Quadrant opts for lower-cost Driftwood well offshore Australia
Quadrant Energy is making preparations to drill a commitment well shortly on the WA-320-P permit in the Carnarvon basin offshore Western Australia.
According to partnerTap Oil, Quadrant – the new operator in place of Apache – has recommended Driftwood-1 well as the year 3 commitment well, instead of the previously proposed Palmerston-1.
Driftwood-1 would likely cost A$15.47 million ($11.5 million), way less than A$98.2 million ($73 million) estimated previously for Palmerston-1.
Quadrant expects the jackupNoble Tom Prosser to spud the well on Aug. 1, at a location around 1 km (0.6 mi) north of the Rosily-1A exploration well which had minor oil shows.
The main aim is to test the Early Cretaceous sandstones of the Mardie Greensand Member, Birdrong Member, and Zeepaard Formation in a low-relief, northeast-southwest trending four-way dip closure.
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