Bounty ready to spin Utopia bit

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Ready to strike: Bounty said it expected to spud Uptopia-10 today

AFP PHOTO/WILLIAM WEST

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Josh Lewis

 02 December 2010 06:46 GMT

Australia-listed Bounty Oil & Gas said it would spud the Utopia-10 development well today on PL 214 in the onshore Eromanga basin, south-west Queensland.

The well will be drilled through the Murta reservoir zone to a total depth of 1100 metres, finishing in the Namur sandstone. The well will be fracture stimulated to increase flow rate.

Bounty said the well was planned to increase oil production at the Utopia field and provide a path for the future development strategy which is aimed at producing the undeveloped reserves at the field.

The company added Utopia-10 would be immediately followed by the Ufouria-1H horizontal development well between the Ufouria-1 and Utopia-1 wells.

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