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Noble Rig to Drill Offshore Australia Wells

Carnarvon Petroleum Limited (ASX: CVN) reported Wednesday the Noble Tom Prosser jack-up rig has been contracted to drill two exploration wells in the Bedout Basin, offshore northwestern Australia.

The drilling program, slated to begin toward the end of this year, comprises the Pavo-1 and Apus-1 wells, Carnarvon noted in a written statement. The company pointed out that Pavo-1 will target 101 million barrels of oil equivalent (boe) (Pmean, gross) and Apus-1 will target 307 million boe (Pmean, gross). Both Santos (ASX: STO)-operated prospects are located near the Dorado field, from which commercial discoveries could be tied back, stated Carnarvon.

“Given the potential resource size and development aggregation benefits, these two drilling targets provide very attractive and meaningful opportunities for Carnarvon,” remarked Adrian Cook, Carnarvon’s managing director and CEO. “Today’s news in locking this rig is another clear point of progression in the advancement of the world-class Bedout Basin.”

Carnarvon stated that it expects Pavo-1 and Apus-1 to be drilled sequentially. Also, the firm pointed out the Noble Tom Prosser drilled the successful Dorado-2 and Dorado-3 appraisal wells in 2019.

“We are looking forward to an exciting year ahead with multiple drilling operations progressing to plan as well as the advancement of our Dorado development pre-FEED and FEED activities,” commented Cook.

Currently in Australia, the Noble Tom Prosser can operate in 400 feet (122 meters) of water and drill to 35,000 feet (10,668 meters), according to Noble Corp.’s website.

Carnarvon owns a 30-percent equity interest in Pavo-1 and Santos holds the remainder, a company spokesman confirmed to Rigzone. He added that Carnarvon owns 20 percent of one segment of Apus-1, which straddles two permits, and 30 percent of another. Santos’ stakes are 80 percent and 70 percent, respectively.

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