Empire Energy to work on finalising the well design and undertake formal tendering process
Empire Energy Group has received approvals from the Northern Territory (NT) Government in Australia for the drilling of Carpentaria-1 well within the EP187 Petroleum Exploration License in the southern Gulf region.
The firm will now work on finalising the well design and will undertake formal tendering with service providers.
Subsequently, the company plans to make final investment decision for the Carpentaria-1 well drilling and then commence the drilling programme.
Carpentaria-1 well aims to appraise the Velkerri and Kyalla Shales
With a prognosed depth of ~2,900m, the Carpentaria-1 vertical well aims to appraise the Velkerri and Kyalla Shales.
Following the 2D seismic programme, Empire identified the top of the Velkerri Shale to be at approximately 2,200m depth and to be 600m thick, whereas the shallower Kyalla Shale located at a depth of approximately 1,200m at the Carpentaria-1 well location.
Empire’s technical team is working together with its well engineering and project management consultants, InGauge Energy, in an effort to finalise the well engineering design of Carpentaria-1.
The data will be used to assess the recoverable volumes of hydrocarbons in its EP187 Phase 1 Work Program Area and the hydrocarbon composition of the Velkerri and Kyalla Shales.
The well design would comprise an extensive formation evaluation programme involving coring to provide technical information regarding hydrocarbon composition and content, and rock mechanical properties of the Velkerri and Kyalla Shales in EP187.
The company said in a statement: “Additional evaluation activities on Carpentaria-1 after the initial drilling program would be subject to a separate Northern Territory Government approval process which has already commenced.”
Last year, Empire Energy Group signed a purchase and sale agreement with Mai Oil Operations for the sale of its Kansas assets for $19.1m.