Karoon

Oil & Gas

Karoon Gas executes final agreements for rig contract

Karoon Gas Australia has executed its final agreements with members of the QGOC Constellation to contract the Olinda Star semi-submersible drilling rig. The Olinda Star has been contracted to drill two firm wells and two optional wells in Karron’s Santos Basin blocks with drilling scheduled to commence during the third quarter of next year. The wells are planned for the appraisal drilling of the Echidna light oil discovery.

Oil & Gas

Karoon Gas confirms Santos oil discovery

Karoon Gas Australia has confirmed its oil discovery in Brazil's offshore Santos basin. The company said it had encountered a 213 metre gross oil column in the Echidna-1 exploration well from wireline pressure data across the Paleocence and Maastrichtian aged reservoir intervals. Karoon managing director, Robert Hosking, said:"The Echidna discovery represents another significant achievement for Karoon. Echidna adds incremental resource to Karoon's discovered Kangaroo oil field which further supports Karoon's ambitions to develop an integrated production hub in the Santos Basin."

Oil & Gas

Apache snaps up rig for Carnarvon

Apache have contracted a semi-submersible rig from Diamond Offshore to drill the Levitt-1 exploration well in the northern Carnarvon Basin. Karoon Gas Australia said it had been advised by the operator of the move which will see the Ocean America rig used to drill in the exploration permit WA-484-P. The Levitt-1 exploration well is expected to spud during May 2015.

Oil & Gas

Karoon Gas hits five oil bearing reservoirs in Santos Basin

Karoon Gas has encountered five separate oil bearing reservoir sand intervals in its Kangaroo-2 appraisal well in the Santos Basin. The company said it had made the discovery within the Palaeocene and Maastrichtian formations in waters offshore Brazil. Work is now continuing to assess the impact of the well results on the resource size as no gas cap was penetrated and there was shallower oil water in some of the sands.

Oil & Gas

Karoon Gas makes strides in South American drilling

Australian explorer Karoon Gas has made further progress with its work at the Santos Basin exploration and drilling campaign. The Kangaroo-2 has now penetrated the target Paleocene reservoir at 1,660 mRTas indicated by increased LWD readings, elevated gas readings and oil shows seen in mud log cuttings from the reservoir. Drilling will continue to a total depth before wireline logging is run, which is designed to confirm the presence of the hydrocarbon column.