14 January 2020
Beetaloo Exploration Program update
The vertical section of the Kyalla 117 N2-1 well was successfully and safely completed in November 2019.
Drilling of the horizontal production hole section commenced in December, with a target length of between 1,000 to 2,000 metres. After reaching a horizontal length of 700 metres, operational challenges were experienced in maintaining adequate hole conditions over portions of the horizontal production hole section.
A new horizonal production hole section will now be drilled from the existing vertical well.
The partially drilled horizontal production hole section will be plugged in line with regulatory requirements.
With the drilling rig and equipment on-site and in position, drilling of the new horizontal section is expected to commence within the next month.
This experience is not uncommon in an exploration program such as this and is not anticipated to result in a material increase in cost for the current campaign, nor materially delay the availability of results.
Origin remains positive about the potential of the Lower Kyalla Formation. Results obtained from operations to date in the target shale formation demonstrate good reservoir continuity, conductive natural fractures, and continuous gas shows.
The Beetaloo Exploration Project is a joint venture between Origin (70%) the Operator and Falcon Oil and Gas (30%).
To learn more visit www.originbeetaloo.com.au
Price review outcome and update on FY2021 guidance
Origin Energy Limited (Origin) has provided the following update on earnings guidance for the year ended 30 June 2021 (FY2021), following an adverse outcome on a domestic gas contract price review, combined with a further deterioration in Energy Markets’ operating conditions.