VICTORIA, Australia – IPB Petroleum and its joint venture have received notification that the Stena Clyde drillship has spudded the Pryderi-1 exploration well in WA-424-P offshore Australia.
Pryderi is in 246 ft (75 m) of water and about 6 mi (10 km) away from the permit’s existing Gwydion oil discovery. The well will test a new oil exploration play interpreted by IPB Petroleum to extend from WA-424-P (IPB 75%) through to WA-485-P (IPB 100%). The company does not plan to conduct a drillstem test and after logging, the well will be P&A’d.
The permit is situated about 260 mi (420 km) north and offshore of Broome in Commonwealth waters. IPB Petroleum holds a 75% stake while CalEnergy, operator, holds a 25% stake.