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Transerv Spuds First of Two key Test Wells on Australia’s Largest Undeveloped Field

Source: www.gulfoilandgas.com 8/18/2015, Location: Not categorized

Transerv Energy (TSV) is pleased to announce that it has started the pivotal two-well drilling program aimed at unlocking the potentially immense value of Australia’s biggest undeveloped onshore gas field in the mid-west of WA.

The first well in the program at the Warro gas field, Warro-5, was spudded at the weekend and is expected to take 28 days to reach the planned total depth (TD) of 4250m RT TVD.

The well, which is being drilled by the Enerdrill Rig-3, is presently at 1599m RT and running 13 3/8” casing. When the well reaches TD it will be cased from surface to total depth and suspended at the end of drilling operations. Transerv will then drill Warro?6 before undertaking reservoir stimulation and testing of both wells.

The Warro?5 location has been carefully selected using the Warro 3D seismic data. The well will penetrate the reservoir section in the substantial portion of the field that the 3D shows is devoid of deep?seated faulting.

The independent study by a US?based team of tight gas experts led by Dr Keith Shanley found this deep?seated faulting was likely to be the source of the water encountered in the Warro-3 and Warro-4 wells.

The study indicated that Warro contains a substantial volume of gas with the potential to flow at high rates. Wells may be capable of delivering 4?10 billion cubic feet of gas each (50?acre spacing) with existing water results and more (7.12 Bcf) if the water can be reduced or avoided by drilling away from the faults. The study also confirmed an in?place gas resource of 8?10 trillion cubic feet with potentially 3?4 Tcf recoverable if appropriate reservoir stimulation is successfully carried out Warro-5 and 6 are designed to demonstrate the ability of wells in the Warro Field to flow gas at commercial rates and avoid the issues associated with excessive water in Warro-3 and 4 wells.

Warro-5 and 6 are the first wells to be located with the benefit of the Warro 3D seismic, which has provided a clear picture of the gas zones, deep?seated faulting and the field outline.

The drilling of Warro-5 and 6 is of no cost to Transerv because the wells will be funded through the existing farm?out arrangement with Alcoa of Australia. Under this agreement, Alcoa can earn up to a 65 per cent interest in the field by spending $100 million.

Alcoa has invested approximately $50 million to date (resulting in a 43% interest) and these wells are expected to cost a further $30?40 million, depending on results.

The Warro Field is located 200km north of Perth and 30km from the DBNG and Parmelia pipelines, meaning the field is ideally located to provide gas to markets along both pipelines.

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