9 June 2015drilling progress report● Neutral
Waitsia-1 reached total depth of 3,507m, with the Holmwood Shale 10m high to prognosis. Wireline logging is starting, and a flow test is possible if results are positive. No gas results are given yet.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 June 2015drilling progress report● Neutral
Beach's May report: Swan Lake-13 and -16 were cased as producers in the SACB JV (Origin 13.19%), and the Barrolka campaign (Origin 16.5%) finished with all wells cased. The Windorah-Marama program started. Routine non-operated activity.
15 May 2015drilling spud● NeutralMajor
AWE spudded the Waitsia-1 appraisal well on 14 May (Origin 50% of L1/L2), planned to 4,050m over about six weeks. It tests the Waitsia field (gross 2C 290 Bcf, found by Senecio-3 in 2014). A flow test is possible; no fracture stimulation.
11 May 2015drilling result▲ Good
AWE's note on the same BassGas well says Yolla-6 intersected its primary reservoir targets and has been logged. It will be completed and tied in; the rig returns to Yolla-5. Largely repeats Origin's release with added detail on the targets.
11 May 2015drilling result▲ Good
Origin, as operator, says Yolla-6 reached total depth of 3,653m in the BassGas Mid Life Enhancement project (Origin 42.5%). It will be cased and completed for production. The rig now returns to finish Yolla-5. Routine progress, no flow result yet.
7 May 2015resource reserve update▲ GoodMajor
AWE reports Irwin-1 found a 32m gas column in the Dongara/Wagina sandstone, with gross 2C contingent resources of 149 Bcf across Irwin and Synaphea. Kingia was water-bearing but supports the 290 Bcf Waitsia estimate. Waitsia-1 is next; AWE targets early production by mid-2016.
6 May 2015drilling progress report● Neutral
Beach's April report: Cooper Basin gas wells in the SACB JV (Origin 13.19%) were cased as future producers, including Narie-4 and Coonatie-23, with Barrolka-17 cased. Swan Lake-13 reached TD. Routine non-operated activity; Beach's oil and Egypt results are not Origin's.
24 Apr 2015drilling result▲ Good
Irwin-1 reached total depth of 4,049m, with elevated gas shows in the Dongara/Wagina primary target and gas shows in deeper secondary targets of undetermined significance. Wireline logging comes next. No flow or resource figures yet.
22 Apr 2015drilling progress report● Neutral
Irwin-1 changed its drill bit and is at 3,850m, drilling to 4,064m. Routine progress with no new result.
16 Apr 2015drilling result▲ Good
Irwin-1 hit the top of the Dongara Sandstone at 3,146m, 41m high to prognosis, with elevated gas shows across 120m of the primary target. Wireline logging comes later, so no flow or resource figures yet. An early encouraging sign for Origin's Perth Basin gas push.
15 Apr 2015drilling progress report● Neutral
Irwin-1 has set intermediate casing at 2,768m and is drilling at 2,996m toward 4,064m. Routine progress with no result yet.
8 Apr 2015drilling progress report● Neutral
Irwin-1 reached 2,770m and was about to run 9-5/8 inch casing. Still on track for 4,064m and about seven weeks total. Routine progress, no result yet.
1 Apr 2015drilling progress report● Neutral
AWE reports Irwin-1 (Perth Basin, Origin 67% of EP320, 50% of L1) at 1,079m after setting surface casing at 913m. Drilling toward 4,064m, about seven weeks in total. Routine progress, no result yet.
1 Apr 2015drilling progress report▲ Good
Beach's March report: a nine-well Cooper Basin gas campaign in the SACB JV (Origin 13.19%) was completed, with initial rates from three wells above pre-drill estimates. Further Coonatie and Barrolka wells cased or drilling. Routine non-operated activity; Beach's own oil discoveries are not Origin's.
25 Mar 2015drilling spud● Neutral
AWE spudded the Irwin-1 exploration well in the Perth Basin on 25 March, drilling for Origin as its agent. Origin holds 67% of EP320 and 50% of L1. It targets gas east of Senecio-Waitsia, to 4,064m over about seven weeks.
16 Mar 2015drilling spud● Neutral
AWE (35% BassGas partner) re-releases Origin's announcement that the Yolla-5 development well spudded on 14 March 2015. It adds no new information beyond Origin's own release.
16 Mar 2015drilling spud▲ Good
Origin, as operator, spudded the Yolla-5 production well at BassGas on 14 March using the West Telesto rig. It is the first of two wells in the mid-life project, aimed at extending Yolla production. Origin holds 42.5%. Planned depth is about 3,280m.
4 Mar 2015drilling progress report● Neutral
Beach's February report shows further Cooper Basin gas wells cased in the SACB JV (Origin 13.19%). Gaschnitz-2 cased after 113m of gas-saturated sandstone; fracture stimulation is deferred until the joint venture agrees timing. Routine non-operated drilling.
4 Feb 2015drilling progress report● Neutral
Beach's January report shows more Cooper Basin gas wells cased in the SACB JV, where Origin holds 13.19%, including Nephrite South-11 with 81m net gas pay. Gaschnitz-2 reached total depth and is being logged. Routine non-operated drilling.
21 Jan 2015drilling result● Neutral
Speculant-1 reached total depth of 4,917m in Origin's 100%-owned Otway Basin permit. It will be suspended while development options for the gas found in the Waarre Formation (announced 9 December) are assessed. No resource size is given yet.
7 Jan 2015drilling progress report● Neutral
Beach's December report completes the Bauer oil campaign and shows Big Lake, Nephrite South, Kanowana and Mudera gas wells cased in the SACB JV where Origin holds 13.19%. Gaschnitz-2 is drilling. Routine non-operated drilling with no Origin-specific result.
9 Dec 2014drilling result▲ GoodMajor
Speculant-1, spudded 23 September, found potentially commercial gas in Waarre Formation sands in Origin's operated VIC/L1(v) permit, with a ~145m gas column in Waarre C. It sits next to the Halladale and Black Watch fields. Resource size not yet stated.
3 Dec 2014drilling progress report● Neutral
Beach's November report covers Cooper Basin drilling, with Big Lake gas wells cased and a Nephrite South pad program started in the SACB JV where Origin holds 13.19%. Gaschnitz-3 was cased after log gas pay. Mostly Beach-operated Bauer results; routine for Origin.
5 Nov 2014drilling progress report● Neutral
Beach's October drilling report shows more Cooper Basin wells cased and suspended, including Big Lake, Leleptian and Durham Downs wells in joint ventures where Origin holds 13.19% (SA) and 16.5% (Qld). Routine development drilling with no Origin-specific result.
1 Oct 2014drilling progress report● Neutral
Beach's September drilling report shows more Cooper Basin wells cased and suspended or drilling in joint ventures where Origin holds 13.19% (SA) and 16.5% (Qld). Highlights are Beach's own Egypt and PEL 91/104 results. Routine development drilling with no Origin-specific result.
23 Sept 2014drilling spud● Neutral
Origin spudded the Speculant-1 exploration well on 23 September 2014 near Nirranda South, Victoria (Otway region), using extended reach drilling to reach offshore gas, with planned depth about 3,800m. Origin will update only on completion or a material event. Origin's interest is not stated.
3 Sept 2014drilling progress report● Neutral
Beach's August drilling report shows more Cooper Basin gas wells cased and suspended in joint ventures where Origin holds 13.19% (SA) and 16.5% (Qld). Oil finds in PEL 91 are Beach's, not Origin's. Routine development drilling with no Origin-specific result.
2 Sept 2014drilling result▲ GoodMajor
AWE reports Senecio-3 in the Perth Basin (Origin 50%, AWE operator) reached 3,370m, with a new gas discovery in deeper sands and best-estimate 2C resource raised to 70 Bcf gross. Advances the Senecio feasibility study; new discovery not yet sized.
6 Aug 2014drilling progress report● Neutral
Beach's July drilling report shows more Cooper Basin gas wells cased and suspended, including Big Lake-117 and -118 and Hera-3/-4, in joint ventures where Origin holds 13.19% (SA) and 16.5% (Qld). Routine development drilling, no new Origin-specific result.
31 July 2014resource reserve update▲ GoodMajor
Origin's 2P reserves rose 272 PJe (4%) to 6,473 PJe at 30 June 2014. This includes a 312 PJe net increase in APLNG and a 94 PJe increase at Ironbark, after 142 PJe of production. About 86% of 2P reserves are unconventional.