Follow-up oil well set for Australia’s Canning Basin

摘要

Sydney—A follow-up well designed to cement the promise of a new oil province in the Canning Basin offshore Western Australia is planned to be drilled in the fourth quarter of 2015. The Roc-1 well is expected to cost around $45 million to drill and will further test the area around the Phoenix South-1 discovery, Australian partner Carnarvon Petroleum said Tuesday. Carnarvon holds 20% of the Phoenix permit, which is operated and 40% owned by Quadrant Energy, 20% by Japan’s JX Nippon and 20% by Finder Exploration. Quadrant Energy is the new name of a consortium of Brookfield Asset Management and Macquarie Capital.