1 Feb 2012drilling scheduled▼ Bad
Partner Octanex says the Winchester well (WA-323-P/330-P, Santos 75% operator) slips from Q3 to Q4 2012 because the Ensco 109 rig will arrive later than negotiated. Delays the earlier Q3 2012 plan.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Feb 2012drilling progress report● Neutral
Beach's January report is mostly its own wells. In Santos-operated Cooper work, four gas development wells were drilled (Merrimelia-62, Leleptian-4, Tindilpie-13, Durham Downs-5); three were cased as future gas producers, and the fourth was logging. Routine.
4 Jan 2012drilling progress report● Neutral
Beach's December report is mostly its own wells. In Santos-operated Cooper work, Moomba-191, Andree-4, Roti-4 and Galex-3 were cased as future gas producers, and Moomba-191 was deepened to core shale intervals. Routine development drilling.
23 Nov 2011drilling scheduled● Neutral
Octanex says the Winchester 3D survey (720 km²) over WA-323-P/330-P finished without incident, meeting year-1 work obligations; processing is due by end Q2 2012. Winchester well on the Ensco 109 remains scheduled for Q3 2012; Santos holds 75% and funds it.
2 Nov 2011drilling progress report● Neutral
Beach's October report is mostly its own wells. In Santos-operated Cooper Basin work, Moomba-188 and -190 were cased as gas producers, Coonaberry-3 was spudded in Queensland, and Munro-6 and -7 were cased as oil producers. Continues routine Cooper development drilling.
20 Oct 2011drilling scheduled▲ Good
Partner Octanex says Santos has contracted a 675 km² Winchester 3D seismic survey over WA-323-P and WA-330-P, starting as early as 21 October. The Ensco 109 rig is secured to drill the Winchester well in Q3 2012; Santos holds 75% and pays 100% of costs.
10 Oct 2011resource reserve update▲ GoodMajor
Partner Tap Oil reports an independent estimate for Zola, the WA-290-P gas discovery in which Santos holds 24.75%: 378 Bcf contingent resource and 2.3 Tcf prospective in the wider structure. Follows the Zola-1 discovery; a new 3D seismic survey is being processed, with drilling late 2012.
5 Oct 2011drilling progress report▲ Good
Beach's September report is mostly its own wells. In the Santos-operated SA Cooper Basin, Hackett-2, Nephrite South-9 and Dilchee-4 were cased as future Patchawarra gas producers, as planned. Continues Cooper gas development drilling.
26 Sept 2011farm in farm out agreement● NeutralMajor
Carbon Minerals says it agreed with Santos to transfer a further 40% of Gunnedah Basin PELs 1 and 12 for A$15m, taking Santos to 65% and Carbon Minerals to 35%. A new work program runs to June 2013. A partner announcement, not Santos's.
7 Sept 2011drilling progress report● Neutral
Beach's August report is mostly its own wells. In the Santos-operated Cooper Basin, Tindilpie-12 and Nephrite South-7 were cased as future Patchawarra gas producers, and Nephrite South-9 is drilling. Continues Cooper gas development drilling.
1 Sept 2011drilling result▼ Bad
Sampdoria-1 oil exploration well in ATP 752P, operated by Santos, was plugged and abandoned at 1,823m after only shows and a mud-cut water recovery. A dry hole for the Cooper Basin exploration programme. Senex (22.75%) participated at no cost.
3 Aug 2011drilling progress report▲ Good
Beach's July report is mostly its own wells. In Santos-operated Cooper Basin, Tindilpie-11 and Nephrite South-8 were cased as future gas producers, and Zeus-2 and -3 appraisal wells hit oil (Beach 30%). Continues earlier Cooper development drilling.
6 July 2011drilling progress report● Neutral
Beach's June report is mostly its own wells. In the Santos-operated Cooper Basin, Moomba-186 and -187 were cased as future Toolachee gas producers, and Nephrite South-6 was suspended as a Patchawarra gas producer. Wandilo South-1 was plugged and abandoned as dry.
4 July 2011drilling scheduled● Neutral
Partner ESG says a drilling rig returns to Narrabri later this month to start its 2011-12 programme, including a first stacked lateral production pilot. Santos holds 35% of PEL 238. Timing may change with approvals; monthly reports resume once drilling starts.
10 June 2011farm in farm out completion▲ Good
Santos confirms it has acquired 75% and operatorship of WA-323-P and WA-330-P, hosting the Winchester prospect, which it says is geologically similar to Zola. 3D seismic is planned later in 2011; a well may be brought forward to possibly end of 2012.
10 June 2011farm in farm out completion▲ GoodMajor
Octanex says its farmout of WA-323-P and WA-330-P to Santos is now unconditional. Santos takes 75% and operatorship, pays Octanex A$7m for past costs, and will shoot 3D seismic in Q4 2011 and drill a well within three years.
2 June 2011drilling progress report● Neutral
ESG's monthly report says Dewhurst 19 corehole in PEL 238 (Santos 35%) reached 660m, intersecting 12.8m of net Black Jack coal, and the rig is stacked awaiting government approval. LNG Newcastle target of a decision around end-2011 is restated.
1 June 2011drilling progress report● Neutral
Beach's May report is mostly its own wells. For the Santos-operated Cooper Basin, Moomba-185 (Beach 20.21%) was cased and suspended as a future gas producer, and the Saxon-183 rig moved to Moomba-186. Routine partner update.
1 June 2011drilling result▲ Good
Tap says Finucane South-1A has been suspended and the rig released on 30 May, with Finucane South-1 abandoned. The 18.5m oil discovery is confirmed and could exceed the 8 million barrel estimate. No further drilling updates. Repeats the earlier result.
25 May 2011drilling result▲ GoodMajor
Santos announces an oil discovery at Finucane South with an 18m net oil column, on the high side of pre-drill expectations. A joint development with the Fletcher discovery could be decided before end-2011, with first oil by end-2013. Santos operates with 33.4%.
25 May 2011drilling result▲ GoodMajor
Tap, a 8.2% partner, reports Finucane South-1A found a new oil field with 18.5m of net oil pay in the Angel Formation, reaching 3,190m. Early evaluation suggests it could exceed the 8 million barrel pre-drill estimate. Resolves the well Santos operates (33.4%).
18 May 2011drilling progress report● Neutral
Finucane South-1A (Santos operator, 33.4%) drilled from 684m to 2,057m, and 13 3/8-inch casing is set at 2,049m. The well will drill to about 3,500m, then be plugged or suspended. No oil result yet.
11 May 2011drilling progress report▼ Bad
At Finucane South-1 (Santos operator, 33.4%) the drillstring parted at 1,273m. The rig was skidded 50m and Finucane South-1A spudded on 8 May, now at 684m. This is an operational setback, with the 20-25 day plan unchanged and no result yet.
4 May 2011drilling progress report● Neutral
Beach's April report covers its own Cooper Basin work. For Santos-operated wells, Moomba-184 (Beach 20.21%) was cased and suspended as a future gas producer, and the Saxon-183 rig moved to Moomba-185. Routine partner update.
4 May 2011drilling spud● Neutral
Finucane South-1 (WA-191-P, Santos operator, 33.4%) spudded on 3 May with the Stena Clyde rig and had reached 203m. It is an oil exploration well targeting about 8 million barrels gross, planned to reach about 3,500m in 20-25 days.
3 May 2011drilling progress report● Neutral
ESG reports on PEL 238 (Santos 35%): Yallambee 2 corehole reached 1,080m and intersected 13.1m of net Black Jack coal. Dewhurst 19 spudded 29 April. The report restates the LNG Newcastle target of a decision around end-2011 and first LNG by 2015.
21 Apr 2011drilling scheduled● Neutral
Santos, as operator of WA-191-P (33.4%), will drill the Finucane South-1 oil exploration well with the Stena Clyde rig straight after Zola-1. Tap estimates 8 million barrels gross mean recoverable, with a low-moderate risk. Drilling is due within a week, taking 20-25 days.
20 Apr 2011drilling result▲ Good
Tap reports wireline logs confirm about 125m of net gas pay over three Mungaroo sandstones at Zola-1 (Santos 24.75%), with excellent reservoir quality. The structure may still be at the upper end of 1-2 tcf. The well is being plugged and abandoned as planned.
13 Apr 2011drilling progress report▲ Good
Tap reports the Zola-1 ST1 sidetrack (Santos 24.75%) reached final depth of 4,877m and wireline logging is under way. The company repeats the discovery and the possible upper-end 1-2 tcf estimate. Plugging and abandonment is planned.
6 Apr 2011drilling progress report● Neutral
Beach's March report includes Santos-operated Moomba-184 gas development well (Beach 20.21%), spudded 4 April as the first well by the new Saxon-183 rig. Mostly Beach's own Cooper Basin work. Routine partner update.