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Thursday, 21 August, 2008, 20:10 GMT | more prices >>

Sundance signs up US partner



By Upstream staff 

Australia’s Sundance Energy is farming out a 5% stake in the Fairbridge-1 well in the South Australian sector of the Cooper basin to US company McElvain Oil & Gas.

This brings the company’s interest in the well down to 41.67%. Other partners include operator Cooper Energy (38.33%), Enterprise Energy (10%) and Liberty Petroleum (5%).

Cooper is currently attempting to re-run the first production test after an earlier try was not completed due to a mechanical failure of the packer.

Fairbridge-1, which targets oil in a structure located about 3.5 kilometres west of the Keleary oilfield, was drilled to a total depth of 2520.8 metres using the Ensign Drilling Rig-30.


Monday, 09 January, 2006, 01:08 GMT  | last updated: Monday, 09 January, 2006, 01:08 GMT

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