Tiger Brokers

ConocoPhillips Partner Says First Phase of Otway Exploration Drilling Program Starts in Australia

MT Newswires Live
Nov 04

ConocoPhillips' (COP) project partner, 3D Energi, said Monday that drilling has started in the Otway Exploration Drilling Program, or OEDP, operated by ConocoPhillips Australia.

The program has now begun with the Essington-1 gas exploration well offshore in the Otway Basin, Victoria. The well was spudded on Saturday by ConocoPhillips Australia using the Transocean Equinox drilling rig, the company added.

3D Energi, which holds 20% participating interest in the OEDP, said drilling is expected to take about 32 days to reach a planned total depth of around 2,650 meters true vertical depth sub-sea, depending on operational conditions.

Essington-1 is the first of two wells in the initial phase of the OEDP, which aims to identify commercially viable natural gas reserves to help supply Australia's East Coast market, the company added.

Price: 88.74, Change: -0.12, Percent Change: -0.14

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10