(MENAFN- ProactiveInvestors - Australia) Beach Energy (ASX: BPT) has spudded the first horizontal unconventional well in the Cooper Basin that will grant a clear picture of how the target horizons will perform.
Holdfast-2 will be drilled vertically for about 3 kilometres and early in the new year, will be drilled laterally for about 1.6 kilometres through the Murteree Shale.
The well is expected to take about two and a half months to drill with fracture stimulation expected around April 2013.
The fraccing of Holdfast-2 is planned to be 15 stages, with pumping rates of 80 barrels per minute targeted for each stage.
Upon completion of the Holdfast-2 horizontal well, the Ensign 965 rig will move to Encounter-2, the second horizontal well in the program.
Beach had flowed 2 million cubic feet of gas per day from both its Holdfast-1 and Encounter-1 vertical wells during testing and a horizontal well could well flow at far higher rates.
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