Major drilling campaign for Cooper Basin explorer

majorAMID upgrading its reserves, explorer Senex Energy has begun a 12 month drilling campaign across its northern and southern Cooper Basin permits, with plans to drill more than 30 wells to increase oil production and reserves.
The company has 13,000 square kilometres of tenements across its interests in 38 permits in the Cooper and Eromanga basins.
Senex’s proved reserves rose to 5.1 million barrels from 2.1mmbbls, proved and probable reserves to 10.8mmbbls from 3.9mmbbls and proved, probable and possible reserves increased to 21.4mmbbls from 8.6mmbbls.
The company announced the upgrade after reviewing its assets in the South Australian Cooper Basin. Senex’s 12-month drilling plan is the first part of a multi-year exploration program, and drilling will first be focussed on the southern oil province with well sites on or near existing oil fields.
During the last six months the company received initial interpretation volumes from the Cordillo 3D seismic survey and consequently identified more than 50 targets across its Cooper Basin assets.
“By analysing reprocessed seismic data and considering the application of well established production enhancement techniques, our technical team has indentified a large number of opportunities to improve the productivity of our existing assets and exploit oil zones that have previously been overlooked,” Senex managing director Ian Davies said.
“Importantly, this major oil drilling program is fully self-funded from oil production.”
The prospects are close to existing facilities and new exploration targets will be drilled on the western flank of the Cooper Basin.
“Our technical team has identified a large number of opportunities to improve the productivity of our existing assets and exploit oil zones that have previously been overlooked,” Mr Davies said.
The Worrier-8 well is one of two wells to be drilled in the September quarter and the first well spudded for the program.
Senex plans to drill Worrier-8 to a total depth of 1780m to assess the productivity of the Murta formation; test for unswept oil in the Hutton sandstone and Birkhead formation; and test for gas in the Patchawarra formation.
Worrier-8 is 236m southwest of Worrier-1, which discovered the Worrier oil field in 2003. According to Senex, the peak flow rate was 7000 barrels of oil per day and total production to date is more than 3.7 million barrels.
Senex has also started a 1037sqkm survey in the South Australian Cooper Basin which it anticipated would be complete in the December quarter.
The Dundinna 3D seismic survey covers six of its tenements in the basin’s north and aims to identify possible drilling targets within the Jurassic and Triassic formations, adjoining the Cordillo 3D survey in the east and the Lignum 3D survey to the west.
Mr Davies said the company was working to provide targets for its ongoing 2013/2014 drilling program. “3D seismic has transformed the exploration process in the Cooper Basin with average drilling success rates increasing from 23 per cent to 48 per cent over the last several hundred oil wells drilled since the year 2000,” he said.
“The collection and analysis of this data is an integral step in exploring our highly prospective tenements and identifying drilling locations.
“We are committed to using the best technology available and have already collected more than 1100sqkm of 3D seismic in 2012/13.”