PERTH, Australia – Transerv Energy (TSV) has entered into an alliance with Norwest Energy (NWE) to facilitate farm-out and drilling of the 160-MMbbl Xanadu prospect in the TP/15 permit offshore Western Australia.
Xanadu is said to be a well-defined structural closure close to the coast near the Cliff Head and Jingamia oil fields which can be drilled and produced from a nearby, land-based drilling site.
TSV and NWE aim to finalize the farm-out this year to ensure drilling goes ahead during 2017.
Permit TP/15 lies within a conventional oil play in the offshore northern Perth basin in the 3 nautical-mile wide state territorial waters adjacent to the township of Port Denison.
Xanadu is a prominent horst block lying parallel to the coastline in very shallow water. The Xanadu-1 well will target Permian sands from a depth of around 800 m (2,624 ft).
Near-shore sands of the Dongara Sandstone represent the primary objective, with secondary targets in the fluvio-deltaic Irwin River Coal Measures and the regressive marine sands of the High Cliff sandstone.
Structural mapping, based on 2D seismic and high resolution gravity data from a 2009 airborne 3D full tensor gradiometry survey, indicates Xanadu is geologically similar to both the Cliff Head and Hovea structures.
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