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- Empire Energy (EEG) begins drilling the Carpentaria (C-2H) well, located in the Beetaloo sub-basin of the Northern Territory
- The well is targeting the Velkerri Formation which is the same structure the Carpentaria-1 well targeted, although not as deep as C-2H is planned
- Once the program is complete, Empire will analyse the results and plan the C-2H fracture stimulation and flow testing program which will be undertaken next year
- The energy stock will then incorporate the results into an updated, independently certified resource estimate in the first quarter of 2022
- Company shares end the day 1.28 per cent in the red to close at 38.5 cents
Empire Energy (EEG) has started drilling within the EP187 exploration permit which is located in the Beetaloo sub-basin of the Northern Territory.
The company is drilling the Carpentaria-2H (C-2H) well which is situated 11 kilometres north of the Carpentaria-1 well and on the same 2D seismic line.
Empire expects to drill the well to roughly 1800 metres to intersect all four targets in the middle Velkerri Formation shale units. This formation is the same structure the Carpentaria-1 well targeted although C-2H is being mapped over 200 metres deeper.
As a result of the additional depth, the company expects greater formation pressure and a moderately drier gas composition.
The entire C-2H drilling program is expected to take around 45 days from spud to drill rig release.
Once drilling and evaluation of the formation have been completed, the C-2H well will be cased and suspended before the rig is released. Empire’s technical team will then analyse the results and plan the C-2H fracture stimulation and flow testing program which will be undertaken after the wet season.
Once fracture stimulation and flow testing have wrapped up, the energy stock will incorporate the results into an updated, independently certified resource estimate in the first quarter of 2022.
In addition to the drilling program, EEG has begun the acquisition phase of the Charlotte 2D Seismic Survey. The seven-line survey is expected to take about two weeks to acquire and is designed to further delineate and map the Velkerri Formation across EP187. This will provide data for Empire’s appraisal planning and selection of future drilling locations.
Company shares ended the day 1.28 per cent in the red to close at 38.5 cents at market close.
