Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

New Standard Energy and ConocoPhillips get gas in Canning Basin  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 11/10/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - ProactiveInvestors - Australia) New Standard Energy (ASX: NSE) and ConocoPhillips have retrieved cores from their Nicolay-1 well in the onshore Canning Basin that have backed up the increase in background gas that was detected during drilling.

Initial gas desorption measurements from the core have confirmed the presence of gas though the implications cannot be determined until more detailed core analysis has been undertaken both at surface and in the labs over the coming months.

During drilling operations, the mudlogs detected an increase in background gas from a depth of about 2,850 metres, which has been observed through to the current depth of about 3,200 metres.

Based on the drill cuttings, mudlogs and the cores retrieved at surface, the formation being cored appears consistent with the upper sections of the target Goldwyer Shale, which is predicted to have better qualities towards the base of the formation.

New Standard will now cut a core before resuming drilling towards the target depth of about 3,450 metres.

Nicolay-1 is the first of three wells the joint venture is drilling on the Goldwyer project. Its primary objective is to gather a comprehensive, modern data set over a large section of the Goldwyer formation through a detailed program consisting of mud logging, full coring and electric wireline logs.

The remaining two wells - Gibb Maitland-1 and Blatchford-1 " in the Phase 1 program are also aimed at gathering sufficient data to help delineate and better understand the hydrocarbon prospectivity of the Goldwyer.

ConocoPhillips is funding 100% of the costs of drilling the 3 wells under the first exploration phase to a cap of US13 million (A13.07 million).

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help