Australia’s Key prepares for Perth spud

Centrica-Spuds-Butch-East-Well23 June 2014, News Wires – A land rig is being mobilised to EP437 in Western Australia’s onshore Perth basin to start drilling the Dunnart-2 probe, said Australia-listed operator Key Petroleum.

Earthwork operations began and components of the DCA Rig 7 were being moved to the wellsite during the last week.

Pipework has been rolled out and construction of a flare pit and sump has also been completed.

A laydown area for the mobilisation of further rig equipment and trucks will be constructed this week, Key reported on Monday.

The oil exploration well is anticipated to spud in the first week of July.

Key operates the permit with a 43.47% interest. Earlier this month, Rey Resources closed a farm-in deal for a 43.47% stake while Caracal Exploration holds the remaining 13.06% interest.

The Dunnart prospect is believed to hold a best estimate potential resource of 2 million barrels of recoverable oil. According to Key, the first exploration well recorded excellent oil shows but was never tested.


– Upstream

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