Drillsearch announces first production with Santos

Company News

Drillsearch Energy Limited (ASX:DLS) has announced the start of production from the company’s Western Wet Gas joint venture with Santos in the Cooper Basin.
 
Drillsearch owns a 40 per cent inerest in the joint venture, with Santos owning the remaining 60 per cent.
 
The joint venture with Santos is Drillsearch’s second producing Wet Gas joint venture, after the Western Wet Gas joint venture with Beach Energy.
 
The next two wells planned to be brought online by the joint venture, Yarowinnie South-1 and Varanus South 1, are expected to commence producing in the second half of FY2016. 
 
Drillsearch reported a net loss of $8.07 million at 30 June.