Karoon calls Levitt-1 exploration well offshore Australia a dry hole

Offshore staff

MELBOURNE, Australia
– Karoon Gas Australia has declared the Levitt-1 exploration well offshore Western Australia to be dry.

The well, drilled to TD of 4,929 m (16,171 ft) RT found no hydrocarbon shows and LWD data indicated the Legendre and North Rankin formation to be water bearing.

Once ongoing wireline logging is complete, the well will be P&A’d, completing the current exploration drilling program in WA-482-P.

Karoon has a 50% equity interest in WA-482-P and is carried for 90% of the cost of the well. Joint venture partner and operator Quadrant Energy Australia Ltd. has the remaining 50% interest.

“Whilst a dry hole at Levitt-1 is disappointing, there remains enormous potential in the remainder of this large 13,539-sq km (5,227-sq mi) permit,” said Robert Hosking, managing director of Karoon. “To the north and east in the Wigmore sub-basin new 3D seismic shows the presence of many structures and a thicker Jurassic source interval than seen in offset wells.”

08/12/2015



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