- Norwest Energy’s (NWE) joint venture partner, Energy Resources, secures a rig for the Lockyer-2 and North Erregulla Deep-1 wells in the Perth Basin, WA
- The Ensign rig is scheduled to spud Lockyer-2 by the end of March, with well pads at both sites near completion and final regulatory approvals well advanced
- Spudding of the North Erregulla Deep-1 well will follow immediately upon completion of drilling operations at Lockyer-2
- Contingent Lockyer-3 and Lockyer-4 appraisal wells are now in the planning phase, with construction of the Lockyer-3 well pad already in progress
- NWE shares last traded at 6.7 cents, while MIN shares last traded at $89.65 on January 20
Norwest Energy’s (NWE) joint venture (JV) partner Energy Resources has secured a rig for the Lockyer-2 and North Erregulla Deep-1 wells in the Perth Basin, Western Australia.
Energy Resources, a subsidiary of Mineral Resources (MIN), executed a drilling contract with Ensign Australia for a rig which is scheduled to spud Lockyer-2 by the end of March.
Norwest said the well pads were nearing completion at both well sites and final regulatory approvals were well advanced.
Spudding of the North Erregulla Deep-1 well will follow immediately upon completion of drilling operations at Lockyer-2.
“Securing suitable rigs to tap the considerable potential of the high-margin Perth Basin Permian gas play has been a challenge,” Norwest Energy Managing Director Iain Smith said.
“We are therefore pleased that our joint venture operator has been able to secure Ensign Rig 970 to facilitate the Lockyer drilling program”.
Looking ahead, Mr Smith said contingent Lockyer-3 and Lockyer-4 appraisal wells were in
the planning phase, with construction of the Lockyer-3 well pad already in progress.
Norwest holds a 20 per cent interest in exploration licence EP368 and 22 per cent in EP426, while Energy Resources holds the balance and is the JV operator.
NWE shares last traded at 6.7 cents, while MIN shares last traded at $89.65 on January 20.