29 May 2017drilling progress report● Neutral
Planet Gas repeats the prior Silver Star-1 DW-1 position of 4,490m with no change. Fracture stimulation and testing remain to follow. No new substance.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 May 2017drilling progress report● Neutral
Silver Star-1 DW-1 lateral is at 4,490m. Fracture stimulation and testing will follow. No new result.
22 May 2017drilling spud● NeutralMajor
AWE spudded the Waitsia-3 appraisal well on 19 May 2017 (Origin 50%), planned to 3,706m over about seven weeks. It is the first of two appraisal wells before the Stage 2 final investment decision. Reserves will be reviewed afterwards.
15 May 2017drilling progress report● Neutral
Silver Star-1 lateral has advanced to 4,224m. Fracture stimulation and testing remain to follow. No new result.
9 May 2017drilling progress report● Neutral
Planet Gas reports the Silver Star-1 lateral (started 25 April) is now at 3,839m, drilling ahead toward up to 1,500m. Fracture stimulation and testing will follow. No new result.
3 May 2017drilling progress report● Neutral
Senex says Silver Star-1 met the joint venture's reservoir criteria, so a horizontal section (Silver Star-1 DW1) began, with a planned 5,200m depth. Fracture stimulation and testing are expected in early FY18. Origin carries Senex's costs under the farm-in.
3 May 2017drilling progress report● Neutral
Beach's April report covers the Queensland Cooper JV (Origin 16.74%): Gallan-1 was plugged and abandoned, while Hector South-1 (6.7m net gas pay) and Inca-1 DW1 were cased as future gas producers. Both results were in line with pre-drill estimates.
2 May 2017drilling progress report● Neutral
Planet Gas repeats that Silver Star-1 (PEL 638, Origin 33.75%) reached 3,770m with gas shows, and a lateral of up to 1,500m is being drilled before fracture stimulation and testing. No new result; flow rates still unknown.
26 Apr 2017drilling result▲ Good
Silver Star-1 reached 3,770m with gas shows in the Patchawarra target. Planet Gas says the reservoir met criteria, so a lateral of up to 1,500m will be drilled, followed by fracture stimulation and testing. Flow results are not yet known.
18 Apr 2017drilling progress report● Neutral
Silver Star-1 reached 3,565m on 16 April, drilling toward 3,780m. Gas shows now reported in the primary Patchawarra target as well as the secondary coals. No test result yet.
10 Apr 2017drilling progress report● Neutral
Silver Star-1 reached 3,343m on 9 April, with gas shows in secondary coal targets (Toolachee, Epsilon). Planned depth raised to 3,780m from 3,600m. Early signs only; no test result.
5 Apr 2017drilling progress report● Neutral
Senex's March report puts Silver Star-1 at 3,010m on 4 April, with total depth now expected at 3,780m by mid-April. Senex is free carried by Origin under the farm-in. Other wells in the report (Hoplite-1) do not involve Origin.
5 Apr 2017drilling progress report● Neutral
Beach's March Cooper report covers its own gas discoveries and PEL 182 oil wells. Origin has no stated interest in the wells described, so there is nothing direct for Origin shareholders in the readable text.
3 Apr 2017drilling progress report● Neutral
Silver Star-1 (Origin 33.75%) reached 2,738m on 2 April, drilling toward a casing point at 3,380m. No result yet.
27 Mar 2017drilling progress report● Neutral
Planet Gas reports Silver Star-1 (PEL 638, Origin 33.75%) at 1,686m on 26 March, drilling the intermediate hole toward 3,600m planned depth. Roughly $15m well; no gas result yet.
20 Mar 2017drilling progress report● Neutral
Silver Star-1 (PEL 638, Origin 33.75%, Senex operator) spudded on 17 March 2017 and was at 175.5m on 19 March, drilling the surface hole. Planned depth is 3,600m; cost is about $15m. No result yet.
14 Mar 2017drilling spud● Neutral
Planet Gas announces Silver Star-1 drilling has begun in the Cooper Basin's PEL 638. The roughly $15m, 3,600m exploration well targets basin-centred gas. Origin (33.75%) and Senex are carrying Planet Gas's 12.5%. This is the Feb 2017 spud flagged earlier.
1 Mar 2017drilling progress report● Neutral
Beach's February Cooper report. Kanowana-14 (Origin 13.19%) completed a successful three-well campaign. Caraka-2 was marginally below estimates. Toolachee-53 spudded. Ranger-1 began a six-well Queensland campaign (Origin 16.74%).
15 Feb 2017resource reserve update▲ GoodMajor
Origin submits the Amungee NW-1H discovery report, with a Beetaloo 2C contingent resource of 6.6 TCF gross (2.3 TCF net to Origin's 35%) in the Velkerri B Shale. It follows the 2016 test. A Northern Territory fracking moratorium remains in place.
1 Feb 2017drilling progress report● Neutral
Beach's January Cooper report. Kanowana-12 and -13 (Origin 13.19%) were cased as future producers, broadly in line with estimates. Strzelecki-32 found 12m of net gas pay in a secondary zone. Raffle-2 (Origin 16.74%) found 3m net pay, below estimates.
11 Jan 2017drilling progress report● Neutral
Beach's December Cooper report. Allunga-2 and -3 (Origin 13.19%) were cased as producers, in line with estimates; Windigo-3 and Roti South-1 (Origin 16.74%) also in line. Namur-4 was cased as a future producer.
7 Dec 2016drilling progress report● Neutral
Beach's November Cooper report. Big Lake-138 (Origin 13.19%) found 83m net pay, in line with estimates, completing the five-well Big Lake campaign as future producers. Galex-5 (Origin 16.74%) had pay materially below estimates; Allunga-2 is drilling.
2 Dec 2016drilling scheduled● Neutral
Senex announces its Cooper Basin drilling campaign. Silver Star-1 (PEL 638, Origin 33.75%) will spud in February 2017 after a rig-related delay, costing about $15m, with Origin free-carrying Senex's share. Target is about 3,600m deep.
2 Nov 2016drilling progress report● Neutral
Beach's October Cooper report. Big Lake-137 (Origin 13.19%) found 80m net gas pay, marginally below expectations, and was cased as a producer; Big Lake-138 is drilling. Dunadoo East-1 (Origin 16.74%) was plugged and abandoned for lack of commercial pay.
12 Oct 2016drilling result▲ GoodMajor
Origin reports a hydrocarbon discovery at Amungee NW-1H, the final Stage 1 well in the Beetaloo Basin (EP98). Gas flowed at 0.8-1.2 mmscf/d while still flowing back frac fluid; testing continues and resource size is not yet estimated.
5 Oct 2016drilling progress report● Neutral
Beach's September Cooper report. Big Lake-135 (Origin 13.19%) was cased as a future gas producer, with gas pay consistent with a low-side outcome; Big Lake-136 has since been cased as a future producer. Wells 137 and 138 are still at surface hole stage.
20 Sept 2016resource reserve update▲ GoodMajor
Partner AWE reports an independent RISC certification of Waitsia (Origin 50%) 2P reserves at 460 Bcf gross, 34% above AWE's 344 Bcf. AWE keeps the lower booked figure until 2017 appraisal drilling. Origin's reserves are not changed by this.
7 Sept 2016drilling progress report▲ Good
Beach's August Cooper report. Big Lake-134 (Origin 13.19%) was cased as a future Permian gas producer after 143m of net gas pay, in line with expectations. The other four Big Lake wells are still drilling.
15 Aug 2016resource reserve update● Neutral
Partner AWE said it will cut its BassGas (Yolla) 2P reserves to match Origin's operator downgrade. Its Waitsia reserves stay unchanged pending its own review, though Origin's report implies a lift to about 39.79 mmboe. Origin operates BassGas with 42.5%.
3 Aug 2016drilling progress report● Neutral
Beach's July Cooper report. Tirrawarra-90 was cased as a producer, and Coolah-4 found gas pay slightly below forecast, completing the successful three-well Coolah campaign (Origin 16.74%). Tirrawarra-89 is deferred to Q2 FY17; the Big Lake campaign began.