Oil and Gas News

PV12 well reaches 2020 m depth

Central Petroleum’s Palm Valley 12 (PV12) well in Permit OL3 has reached a depth of 2020 m in the P2 unit of the Pacoota Formation. The well is located Southwest of Alice Springs in the Northern Territory and reached the aforementioned depth on the mid July 2022.

Gas was initially discovered at the Palm Valley 1 well in 1965. The gas primarily dwelled in an extensive fracture system in the Lower Stairway Sandstone, Horn Valley Siltstone and Pacoota Sandstones. The system varied in depth between 1800 to 2200 m.

Gas production at Palm Valley predominantly comes from natural fractures which have potential to provide solid production rates.

A total of 168 m of the vertical to horizontal wellbore bend has now been drilled into the middle P2 formation and section total depth has been reached at 2020 m measured depth. Operations have commenced for running and cementing a 7-inch liner prior to drilling up to 1000 m in the lower P2 and P3 formations.

The objective of the side-track is to test the vertically fractured lower P2 sandstone, which was encountered in the original well, from a horizontal well bore for approximately 450 m before entering the P3 sandstone and drilling a further 450 m interval at a near horizontal angle.

The PV12 well is being drilled under a joint venture (JV) between Central, New Zealand Oil and Gas (NZOG) and Cue Energy Resources and is scheduled to be completed this year. Central holds a 50 per cent interest in the joint venture, with NZOG holding another 35 per cent interest and Cue Energy holding the remaining 15 per cent.

The PV12 well is the first of a two-well program which also includes the Dingo-5 exploration and production well.

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