New find: for Beach Petroleum
Beach unearths new field
Australia’s Beach Petroleum has made a new field oil discovery at the Parsons-1 well in permit PEL 92 in South Australia’s Cooper-Eromanga basin, close to the company’s joint venture facilities at Callawonga.
Beach said wireline logging indicated the presence of a gross oil column of about 12 metres.
The reservoir quality is comparable to that present at the Callawonga oilfield where the Callawonga-3 well flowed oil at a rate of 5660 barrels per day.
Beach said prliminary indications are that the Parsons field could contain more than 1 million barrels of recoverable oil.
Once the wireline logging programme is completed, the well wll be completed as a future oil producer.
Beach said its view is that a connection is likely to be established to the Callawonga pipeline currently under construction.