ATP 299P - Queensland Cooper Basin
Drillsearch 11%
Project Summary
Drillsearch has an 11% interest in the Tintaburra Block and its associated production licences (PL). The previous term of the exploration portion expired on the 31 December, 2008. The Joint Venture has applied to renew the permit over a reduced area for a further four year term.
Located in the Eromanga Basin of south-west Queensland the Block has an area extent of 3,529 sq km (872,030 acres). The Block includes 15 oilfields where the oil is predominantly produced from the Wyandra/Murta Formation, the Jurassic Birkhead Formation and the Hutton Sandstone.
For the year 2010 the Block contributes, on average, a monthly production of approximately 890,000 barrels and Drillsearch’s 2P reserves are 178,000 barrels. To learn more about the Tintaburra Block production and reserves review click here.
Due to the heavy rains that are causing floods in the Cooper/Eromanga Basin the majority of wells are currently offline, but are expected to come online shortly.
Recent Activity
Recent activity includes development drilling for the Ipundu and Ipundu North Fields. Two wells, Ipundu-16 and Ipundu North 13, were cased and suspended as future oil producers in 2009. Both wells found oil in Murta Formation and Birkhead Formation (only Ipundu North 13).
In addition to the active drilling program the joint venture also upgraded infrastructure across much of the field including installation of surface production infrastructure which included the construction of the 135 km oil pipeline from the Tintaburra Block Tarbat Oil Facility to the Jackson Oil Facility. Drillsearch owns a 11% interest in the pipeline, contributing $3.8 million to its construction.
Drillsearch and joint venture’s current oil development program for 2010 is expected to add 40,000 barrels of oil equivalent, of 2P risked reserves. This comprises of 4 development/appraisal wells and associated risked completion and connection costs, plus risked completion and connection costs for the evaluation wells.
To learn more about Tintaburra production and reserves review click here.