Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Sept 2014drilling progress report● Neutral
Beach's August report is mostly about its own wells. In Santos-operated Cooper work, Big Lake-111, -112, -119 and Durham Downs-6 were cased and suspended as future gas producers, and others kept drilling. No new result of significance for Santos.
22 Aug 2014drilling result▲ GoodMajor
Santos' Lasseter-1 in the Browse Basin (WA-274-P, Santos 30% operator) found a gas-condensate column with 78 m of net pay, reaching 5,329 m. It follows the 2012 Crown discovery and will now be plugged and abandoned as planned.
6 Aug 2014drilling progress report● Neutral
Beach's July report is mostly about its own wells. In Santos-operated Cooper work, Big Lake-117 and -118, Moolion-7, Hera-3 and -4 were cased as gas wells, and Cook-28 and Cook-29 as oil wells. No new result of significance for Santos.
31 July 2014farm in farm out agreement● NeutralMajor
Central says Santos will proceed to Stage 2 of the Southern Amadeus farm-in, earning a 40% interest (up from 25%) by funding about 1,300 km of 2D seismic (~A$12m). Pedirka Basin is dropped. Santos decides on further Mt Kitty testing around end-August.
2 July 2014drilling progress report● Neutral
Beach's June report is mostly about its own wells. In Santos-operated Cooper work, Big Lake-116 and Hera-3 were cased as future gas producers, Cook-29 and Gashnitz-4 kept drilling, and Cocinero-style oil work continues. No new result of significance for Santos.
4 June 2014drilling progress report● Neutral
Beach's May report mostly covers its own wells. In Santos-operated Cooper work, Big Lake-105, -109, -110 and -115, Moorari-13 and -14 and Vega-4 were cased as gas wells, and Gaschnitz-4 is drilling. Cocinero-1 (Santos 55%) was cased as an oil well.
8 May 2014drilling result● Neutral
Central says early gas analyses from Santos-operated Mt Kitty-1 were inconsistent; its best sample was 61% nitrogen, 13% methane, 11% hydrogen and 9% helium, possibly contaminated. Santos will return with an alternate rig; results are unlikely before end-June. This tempers the earlier 5.8% helium reading.
7 May 2014drilling progress report● Neutral
Beach's April report is mostly about its own wells. In Santos-operated Cooper work, Big Lake-103, -104, -107 and -108 plus Gooranie-5 and Brolga-5 were cased as gas wells, with Big Lake-105 and -109 drilling. No new result of significance for Santos.
15 Apr 2014drilling result▲ GoodMajor
Santos' Mt Kitty-1 in the Amadeus Basin (Santos 70%, Central 30%) reached 2,295 m and flowed gas on test, up to ~530,000 cfd, with helium up to 5.8%. A rig incident on 13 April stopped operations; no injuries reported and the well is secure.
3 Apr 2014drilling progress report▲ Good
Drillsearch's March report says the three-well Tintaburra/Toobunyah campaign in Santos-operated PL 29 (Santos 60%) is finished, with all wells cased and suspended. The rest, including the Stunsail-1 discovery, concerns Beach- and Drillsearch-operated wells.
2 Apr 2014drilling progress report● Neutral
Beach's March report is mostly about its own wells, including the Stunsail-1 oil discovery with Drillsearch. In Santos-operated Cooper work, Big Lake-101, -102, -103 and -106 and Gooranie-6 and Baryulah-18 were cased as gas wells, continuing the Big Lake pad programme.
20 Mar 2014drilling progress report● Neutral
Central Petroleum says the Santos-operated rig has mobilised and should resume drilling at Mt Kitty-1 in the Amadeus Basin around 24 March 2014. Planned depth is about 2,030 m KB; the top hole was drilled to ~785 m. This follows the earlier Q1 target.
6 Mar 2014drilling progress report● Neutral
Drillsearch's February report completes the five-well Ipundu oil appraisal campaign in Santos-operated ATP 299P, all wells cased as future producers. A three-well Tintaburra/Toobunyah development campaign (Santos 60%) began with Tintaburra-8. Other results are Beach-operated.
5 Mar 2014drilling progress report● Neutral
Beach's February report mostly covers its own wells. In Santos-operated Cooper work, the three-well Barrolka program finished with all wells cased as gas producers, and the first Big Lake five-well pad was completed. Moomba-193 ST1 reached 3,996 m with about 1,000 m of horizontal section, to be fracture stimulated.
21 Feb 2014resource reserve update▼ BadMajor
Year-end 2013 2P reserves were 1,368 mmboe, down 2.7% from 1,406 mmboe as 2013 production of 51 mmboe was not fully replaced. Contingent resources fell about 5% to roughly 1.9 billion boe, partly from new reporting guidelines trimming about 150 mmboe.
6 Feb 2014drilling progress report● Neutral
Drillsearch's January report covers its own wells. In Santos-operated ATP 299P (Santos 60%), four of five Ipundu appraisal wells were cased as future oil producers, with the fifth due at total depth in early February. Drillsearch's Chiton-3 was suspended as a future oil producer.
5 Feb 2014drilling progress report● Neutral
Beach's January report mostly covers its own wells. In Santos-operated Cooper work, Barrolka-12 was cased as a gas producer, Moomba-193 needed a side-track, and Moomba-202, Big Lake-97 and -98 and Cooba-5 were suspended as gas producers.
20 Jan 2014drilling result● Neutral
Beach update on Cooper shale gas: Moomba-194 initial 3.1 mmscf/d fell to about 1.4 mmscf/d before shut-in, awaiting a flowline. Moomba-191 produces ~2 mmscf/d. Langmuir-1 is being cleaned up after 10-stage stimulation; Gaschnitz-1ST1 declined from ~1.5 to ~0.7 mmscf/d. Moomba-195 deferred.
8 Jan 2014drilling progress report● Neutral
Beach's December report mostly covers its own wells. In Santos-operated Cooper work, Marama West-1 became a gas discovery, completing a three-well run of gas discoveries with Bolah-1 and Kaiden-1. The Zeus-Minos-Tennaperra oil campaign finished, and several Moomba and Big Lake gas producers were suspended.
4 Dec 2013drilling progress report● Neutral
Beach's November report mostly covers its own wells. In Santos-operated Cooper work, Kaiden-1 and Marama West-1 (drilling) extend the gas exploration program, Zeus-8 and Zeus-9 were cased for production, and Roswell-2 reached 3,481 m. Several Moomba and Kurunda gas producers were suspended.
6 Nov 2013drilling progress report● Neutral
Beach's October report mostly covers its own wells. In Santos-operated Cooper work, Bolah-1 was suspended as a gas discovery, the 16-well Cowralli pad program finished and is being fracture stimulated, and Zeus-10 was suspended as a future oil producer.
2 Oct 2013drilling progress report● Neutral
Beach's September report mostly covers its own wells. In Santos-operated Cooper work, Okotoko West-3 ST1 was suspended as a gas producer, Cowralli-19, -20 and -29 await fracture stimulation, and Langmuir-1 was suspended at 3,815 m. Moomba-194 reached 3,368 m.
18 Sept 2013drilling progress report● Neutral
Mt Kitty top hole was at 417 m and is now planned to about 825 m, deeper than the 480 m announced the day before. The Q1 2014 main hole, to around 2,000 m, is unchanged.
17 Sept 2013drilling spud● Neutral
Mt Kitty gas well in the Amadeus Basin (EP125) spudded 13 September, as part of Santos's farm-in to earn 70%. A top hole is drilled first, with the main hole to about 2,000 m to the Heavitree formation in Q1 2014. Continues the Central Petroleum JV.
10 Sept 2013farm in farm out completion▲ GoodMajor
Drillsearch says due diligence conditions are satisfied on the 4 July deal. Santos now holds 60% of Western Cooper Wet Gas (PEL 106A, PEL 513) and funds a A$100-120m work program, and bought Drillsearch's 25.8% of PEL 100. Drillsearch lifts its Tintaburra stake to 40%.
4 Sept 2013drilling progress report● Neutral
Beach's August report mostly covers its own wells. In Santos-operated Cooper work, Cowralli-17, -18, -27 and -28 were suspended as gas wells, Cook-27 and Irtalie East-4 were suspended as oil producers, and Charo-18 was suspended. Okotoko West-3 ST1 is paused over rig problems.
16 Aug 2013drilling result▲ GoodMajor
Octanex says Santos's final analysis lifted Winchester-1/ST-1 net condensate-bearing gas pay from 40 m to 58 m, in Angel and Mungaroo sands, with total depth 4,019 m. Near existing infrastructure, which Octanex says offers commercialisation options. Abandonment due to finish about 21 August.
15 Aug 2013resource reserve update● Neutral
Partner Drillsearch lifted its 2P reserves 157% to 28.5 mmboe, partly by booking PEL 106A gas at a 40% interest, reflecting the Santos farm-in announced 4 July. That deal is expected to complete in September 2013. It is not a Santos reserve change.
7 Aug 2013drilling progress report● Neutral
Beach's July report mostly covers its own wells. In Santos-operated Cooper work, Saxon rigs were shut for most of July after an unrelated incident. Cowralli-27 and -17, Okotoko West-3 and Charo-18 restarted; Cook-24 was suspended and Cook-25 abandoned.
5 Aug 2013drilling result● Neutral
Winchester-1/ST-1 reached a final depth of 4,019 m after losses and overpressured zones in the Triassic made deeper drilling hard (planned 4,378 m). Final logging and plug-and-abandon have begun; log analysis continues. Octanex holds 25%.
