The well was cased and suspended as a potential oil producer after intersecting almost 17 feet of net oil pay within the Namur Sandstone in Australia. The well intersected the top of the Namur Sandstone reservoir about 7 feet before the company anticipated it would.
"The Bauer oil field continues to outperform our expectations in terms of appraisal, development and production," said Beach Energy Managing Director Reg Nelson. "It is really exciting when a development well, such as Bauer-15, creates potential upside in terms of reserves growth from an existing field."
The Bauer-15 well is the second in a six oil well development planned by Beach Energy at the Bauer field location. The company plans to drill Bauer-16, -17, -18 and -19 using an Ensign 965 rig next. Bauer-15 was drilled with an Ensign 930 rig, which was then moved to the Maupertuis-1 gas exploration well, located less than a mile away.
Beach Energy's gas discovery
In addition to the potential of the Bauer-15 well, beach Energy also found large gas reserves in the Nappamerri Trough in the Cooper Basin in Australia, according to The Sydney Morning Herald. The company is working with Chevron in the region and discovered about 1,968 feet of gas-soaked sandstone that extends to an area of about 1,930 square miles.