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Tuesday, 02 December, 2008, 22:10 GMT | more >>

Study backs Crux reserves booster



By Upstream staff 

Nexus Energy said an independent consultant’s report had backed the increase in reserves in the Crux petroleum liquids field in the Browse basin off Western Australia.

Nexus said in a statement that an analysis by auditor Gaffney, Cline & Associates had suggested a mid-range estimate for recoverable reserves from the field of 75.2 million barrels of condensate, 63.9 million net to Nexus, up from 66.3 million barrels (56.4 million net) estimates at the auditor’s previous report in October last year.

This is in line with Nexus’s own estimate of a 12% rise in the size of Crux recoverable reserves to 74.6 million barrels following the drilling of the Crux-3 and Crux-4 appraisal wells earlier this year.

The wells intersected previously unknown younger Montara formation gas-charged sand overlying the older Plover and Nome formation sands, which has been broached in the earlier Crux-1, Crux-2 and Crux-2 ST-1 wells.

The field lies in exploration permit AC/P23. Nexus operates the permit with an 85% stake on behalf of Osaka Gas, which holds the remaining 15%.


Wednesday, 23 April, 2008, 03:19 GMT  | last updated: Wednesday, 23 April, 2008, 07:15 GMT

Crux of the matter: an artist's impression of Nexus Energy's planned Crux liquids project in the Browse basin
 

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