Beach Energy Spuds Holdfast-2 Unconventional Well

Beach Energy Limited has said that it has spudded the Holdfast-2 horizontal well, a part of Cooper Basin Nappamerri Trough unconventional gas exploration program, targeting the Permian section of PEL 218.

The Holdfast-2 well will be drilled horizontally through the Murteree Shale and is located approximately one kilometre north-east of Holdfast-1. The well is being drilled vertically for approximately three kilometres and, early in the new year, will commence drilling laterally for approximately 1.6 kilometres. It is anticipated that the well will take two and a half months to drill, after which it will be fracture stimulated around April 2013. The fracture stimulation of Holdfast-2 is planned to be 15 stages, with pumping rates of 80 barrels per minute targeted for each stage.

Reg Nelson, Managing Director, said: "Our unconventional program has reached a heightened level of activity, with the spudding of Holdfast-2, the first horizontal unconventional well in the Cooper Basin. The speed with which this program is unfolding is giving us confidence that we will be in a position to commence an uncoventional pilot production program by the second half of 2013.”