Thursday, May 05, 2011
Woodside Petroleum Ltd.
In April 2011, the Laverda North-2 appraisal well was drilled and discovered a gross interval of 18 meters of new oil-bearing sands. Wireline sampling from the new zone recovered more than 20 liters oil to the surface.
As expected, the well also intersected a gross interval of about 10 meters of oil-bearing sands in the Laverda oil field, which was discovered by Woodside in 2000.
Preliminary evaluation is progressing and now suggests that the combined volumes of the Greater Laverda area have the potential to contain a recoverable volume in excess of 100 million barrels of oil (100% basis).
Additional work is required in order to confirm the ultimate size of the accumulations. Appraisal drilling and analysis, plus further geological and reservoir modeling is expected to be conducted to refine this volume.
Laverda North-2 was a planned sidetrack to the Laverda North-1 appraisal well. It was drilled to a total depth of 2,300 meters (measured depth).
The Greater Laverda area is located in WA-36-R in Western Australia's Exmouth sub-basin, about 10 km west of the Woodside-operated Enfield oil project. Woodside also has interest in the nearby Vincent and Stybarrow oil projects.
Woodside is the operator and 60% equity owner of WA-36-R with Mitsui E&P Australia Pty Ltd holding the remaining 40% interest.
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