Quadrant Energy drills dry well offshore Western Australia

MELBOURNE, Australia -- Karoon Gas Australia has announced that the Levitt-1 exploration well, in WA-482-P in the Carnarvon basin, offshore Western Australia, encountered no hydrocarbons.

The well reached a final total depth of 4,929 mRT and petrophysical analysis of LWD data indicates the good quality reservoir of the Legendre and North Rankin formations to be water bearing at this location.

Since July 31, the 9-5/8 in. casing was run and cemented in place. The 8-1/2 in. hole section was then drilled 504 m from 4,425 mRT to TD. A wireline logging program is now underway. Once the wireline logging program is complete, the well will be plugged and abandoned, completing the current exploration drilling program in WA-482-P.

Karoon has a 50% equity interest in WA-482-P and is carried for 90% of the cost of the well. Joint venture partner and operator Quadrant Energy Australia has the remaining 50% interest. The net cost to Karoon is expected to remain within the $5 million budget.