Australia’s Beach Energy Finds Gas at Artisan 1 Well

Monday, 22nd March 2021
by Editorial Team

MEDITERRANEAN SEA, ISRAEL – MARCH 28: In this handout image provided by Albatross, The Tamar drilling natural gas production platform is seen some 25 kilometers West of the Ashkelon shore on March 28, 2013 in Israel. The offshore Tamar drilling site which was originally dispatched from a shipyard in Texas at the end of last year is due to start producing natural gas next week. Over the past few years Israel has suffered from a shortage in natural gas, but with the new platform that weighs 34,000 tons and will be mainly operated by Israelis, the US company Nobel Energy which owns a 36% stake in Tamar, hopes to change Israel’s energy situation as well as the economy as a whole. (Photo Photo by Albatross via Getty Images)

Beach Energy (ASX:BPT) has discovered gas at the Artisan 1 well located off the Victorian coast, the Market Herald reported.

The company drilled the well at a depth of 2,205 meters where it encountered a gross gas column of 69.5 meters with a net gas pay of 62.9 meters and a gas-water contact found at 1,990 meters measured depth.

Beach Energy’s Managing Director and CEO, Matt Kay stated that “while the Artisan discovery is at the lower end of pre-drill expectations, it is being cased as a future producer.”

The well is now being cased and suspended as a future producer, with the option to tie into the offshore pipeline later. After casing operations are completed, the rig will move to the Geographe field to begin further in-field development wells

he rig will continue to the Thylacine field for an additional four in-field wells. First gas from the new wells within the Geographe field is expected to begin in the fiscal year (FY) 2022.