Oil and Gas News

Ironbark JV wraps up abandonment work

The BP-led Ironbark-1 joint venture has finished plug and abandonment operations at the well in WA-359-P offshore Western Australia.

Ironbark is a JV between BP (42.5 per cent), Cue Exploration (21.5 per cent), Beach Energy (21 per cent) and New Zealand Oil & Gas (15 per cent).

The JV partners reported at the start of the month that they had failed to find gas during drilling of the North Carnarvon Basin well.

Operator BP had drilled the well to a total depth of 5618 metres, intersecting the primary target of the Mungaroo Formation at 5275 metres.

However, no significant hydrocarbon shows had been encountered in the target sandstones during drilling.

As a result, the operator decided to begin a process to plug and abandon the well in line with pre-drill planning.

“Preparations to demobilise the rig are under way and this is expected to occur during the coming week,” New Zealand Oil & Gas reported in an ASX announcement.

“The results of the Ironbark-1 well were disappointing, but we thank BP, the operator of the permit, for their safe and professional execution of the drilling operations,” Cue chief executive officer Matthew Boyall added.