New Standard Energy, Conoco Complete First Well in Canning Basin

New Standard Energy and ConocoPhillips have completed the first of the three wells in the Goldwyer unconventional exploration program in the onshore Canning Basin.

The well, Nicolay-1 has confirmed the presence of a thick section of hydrocarbon bearing shale within the Goldwyer formation on the western margin of the Kidson sub-Basin.

The Gibb Maitland-1 well, the second one in the program, is located 150km east of Nicolay #1 on EP 450 and is targeting the Goldwyer formation in a deeper, more central position on the northern flank of the Kidson sub-Basin.

Gibb Maitland-1 is expected to spud in December 2012.