Cooper: Frey-1 drilling underway
Cooper Energy has advised that the Frey-1 oil exploration well being drilled by the PEL 93 joint venture in the South Australian Cooper Basin has spudded.
Designed to test the hydrocarbon potential of the top Namur Sandstone and Murta Formation interval in a four-way dip-closed anticline evident at all stratigraphic levels, Frey-1 has a prognosed total depth of 1,502 m and is expected to take 11 days to complete, Cooper stated.
Cooper currently holds a 30% interest in the PEL 93 joint venture, with the balance held by operator Senex Energy.
“The joint venture is currently in advanced discussions with multiple parties regarding potential farm-in to the PEL 93 permit, with further details to be announced upon finalisation,” Cooper advised.