Horizon Oil Limited (ASX: HZN) has successfully completed drilling and casing of the WM30 development well at the Mereenie gas field in the Northern Territory. The well, part of the company’s ongoing Mereenie Development Program, is expected to boost gas production capacity for the joint venture.
The well was drilled to a depth of 1,331 metres TVDRT, with casing set at 1,245 metres across the Stairway and Pacoota-1 formations. The Pacoota-3 reservoir, the primary target, was successfully reached and completed, with the well tie-in scheduled for completion by the end of February.
Increasing gas supply under NT Government contract
The completion of WM30, alongside the previously drilled WM29 well, will allow the Mereenie Joint Venture to increase gas supply under a recently executed Northern Territory Government Gas Sales Agreement (GSA).
Horizon Oil CEO Richard Beament welcomed the milestone, stating:
“This is a great outcome for the Mereenie JV, with the successful completion of the two-well drilling program. With the second well scheduled to be tied in over the coming weeks, incremental gas volumes from these wells can be sold under the recently executed NT Government GSA. We would like to congratulate and thank the operator, Central Petroleum, and drilling contractor, Ventia, for an outstanding job. The program was completed safely, on time, and within budget, despite being conducted during the hottest months of the year.”
