Proven Basin – Under-explored
Current farmin opportunity - dataroom opens 6 February 2012
50% Finder Exploration & Operator
50% Carnarvon Petroleum Ltd
Surface area:
WA-435-P ~4,955km2
WA-436-P ~5,120km2
WA-437-P ~4,855km2
WA-438-P ~6,790km2
Water depth: from 35 to 265 metres over the Permits
The WA-436-P, WA-437-P and WA-438-P Exploration Permits were awarded to Carnarvon on 4 August 2009 (the “Permits”). These permits are situated in the north-western part of the Bedout Sub-basin within the greater Roebuck Basin, offshore Western Australia. The Permits conain the Phoenix-1 gas discovery and lie in an under-explored area between the prolific Carnarvon Basin hydrocarbon province to the southwest of the Browse Basin to the northeast. The town of Port Hedland lies approximately 150 km to the south of the Permits and Broom lies 250 km to the northeast.
Finder and Carnarvon are jointly farming out Exploration Permits and the farmout dataroom will be open from Monday 6 February until Friday 2 March 2011. Please click here to view the Bedout farmout opportunity flyer.
Opportunity highlights
• Low risk - Phoenix-1 demonstrates a working petroleum system with a gas influx at TD;
• High Reward - Triassic reservoirs within a structural play constrained by new 3D seismic data with significant unrisked gas-in-place highside resources estimates;
Phoenix South Prospect: ~5.5 TCF at ~4,000 metres
Roc Prospect: ~5.5 TCF at ~3,600 metres
Phoenix-1: ~870 BCF at ~4,100 metres
• New Data - 1,100 km2 of new multi-client pre-stack time migrated 3D seismic data has confirmed the structural targets and ties to the nearby 1980 Phoenix-1 gas discovery. 3D also demonstrates that Phoenix-2 was drilled out of closure;
• Regional Context - geological assessment ties wells in a sequence stratigraphic framework;
• Significant reservoir improvement - as seen in Keruadren-1 tied to the 3D to the southeast;
• Simple and low cost development - close to infrastructure with burgeoning gas markets (LNG or DomGas);
• Permit commitments satisfied - discretionary well in Permit Year Five (WA-435-P) or Six (WA-437-P).
©2011 Google; ©2011 DigitalGlobe; ©Cnes/Spot Image
Geology of the Bedout Sub-basin
The Bedout Sub-basin consists of an east-northeast to west-southwest trending Mesozoic depocentre that is filled with approximately 2.5 km of Palaeozoic sediments and 7 km of Mesozoic section. The sub-basin is separated from the Beagle Sub-basin to the west by the North Turtle Hinge Zone, and bounded to the northwest by the Bedout High. The Mesozoic section has generally experienced gentle structuring and thickens to the west before pinching out against and partly draping over the Bedout High. To the east and south the Mesozoic sediments thin and progressively onlap the older Palaeozoic section.
The Bedout High locally separates the Bedout Sub-basin to the south from the Rowley Sub-basin to the north and consists of uplifted and eroded Permo-Carboniferous sediments above an interpreted faulted basement core and is capped by Late Permian volcanics. Early-Middle Triassic sediments onlap the Bedout High from all directions and approximately 3 km of Late Triassic-Cainozoic sediments are draped over the top. The Bedout High is approximately 30 km wide at its upper surface which is expressed as a peneplain.
Only six wells have been drilled in the Permits to date. The two wells, Phoenix-1 and Phoenix-2, drilled on the large Phoenix structure in WA-435-P both intersected extensive gas columns within lower-porosity, mid-Triassic reservoirs. In particular, Phoenix-1 recorded 110 metres of net gas-bearing section; however, further work is required to determine whether the gas discovery at Phoenix-1 could flow at commercial rates. A larger, untested structure in WA-435-P lies directly on trend with the Phoenix structure (Phoenix South), 5-15 km to the southwest. Further to the southeast in WA-437-P lies yet another large, untested structure (the Roc Prospect), both confirmed by the preliminary interpretation of the Phoenix 3D at the base Cossigny level. Regional geology suggests that reservoir quality improves southward toward these prospects based on the Keruadren-1 well, but this model will need to be confirmed by the reservoir characterisation of the Phoenix 3D survey, and ultimately drilling. These Triassic structures have significant potential on the order of several TCF’s of recoverable gas, if exploration and appraisal drilling are successful.
3D visualisation of the Phoenix 3D seismic survey Near top gas (241T) depth surface.
Preliminary processing of 2010 2D/3D seismic data (courtesy of Fugro) tying the Phoenix-1 discovery to Phoenix-2 to the north and Keuradren-1 to the southeast. Keuradren-1 exhibits significantly better reservoir characteristics. The map is near top gas (241T) depth surface from the Phoenix 3D seismic survey.
Other viable plays are recognised in these blocks including possible oil exploration potential at the shallower Cretaceous-aged levels. Carnarvon and Finder intend to carry out numerous studies to evaluate this potential.
The location of the Phoenix Field and key prospects and leads within the Bedout Sub-basin Permits showing the 2010 seismic acquisition program.