Oil and Gas News

Santos farm-in to ATP 2023

NeuRizer, a wholly owned subsidiary of Leigh Creek Oil and Gas (LCOG), has confirmed that Santos will farm-in and take operatorship of Cooper Basin oil and gas permit authority to prospect (ATP) 2023.

ATP 2023 is situated in Queensland with hydrocarbon prospectivity in the Cooper and Eromanga Basin. Santos has been successful in targeting the Toolachee Formation gas accumulations in the surrounding permits and identified ATP 2023 as having similar prospects along this trend.

LCOG has now satisfied the earning obligations for a 20 per cent participating interest in Cooper Basin oil and gas permit ATP 2023 under the farm-in agreement with Bridgeport dated February 11 2020.

Santos and Bridgeport have recently completed negotiations for Santos to farm-in and take over operatorship of permit ATP 2023. As a result, interests in ATP 2023 will be Santos 50 per cent (operator), Bridgeport 30 per cent, and LCOG 20 per cent.

Santos has identified three prospects with drilling planned to begin in late 2022.

LCOG managing director Phil Staveley said the company looks forwards to undertaking the exploration drilling with Santos and Bridgeport and realising the potential for near term gas production.

“Having an experienced operator like Santos with extensive knowledge in the region highlights the prospectivity of ATP 2023,” he said.