MEO 0.00% 0.0¢ meo australia limited

Crux hits hydrocarbon

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    26 August 2015 06:55 GMT
    Anglo-Dutch supermajor Shell has hit hydrocarbons in an exploration well close to its Crux gas and condensate field off Western Australia.
    Joint venture partner Seven Group Holdings revealed in its financial results on Wednesday the Auriga well had encountered hydrocarbons, however it added that the amount and quality has yet to be determined.
    It said the discovery was still subject to geological and technical analysis to determine if the reservoir was economically accretive to the Crux development.
    A Shell spokesperson confirmed it had completed drilling the well and that hydrocarbons were discovered, but added the company would not be commenting any further.
    Auriga was drilled on retention lease AC/RL9 in 170 metres of water using the semi-submersible Stena Clyde and was targeting the Montara, Plover and Nome reservoirs.
    Former Crux partner Nexus Energy, which was taken over last year by Seven, previously estimated the Auriga prospect to hold 1.3 trillion cubic feet of gas.
    Auriga lies near the Crux field in the Browse basin which is estimated to contain 2.2 Tcf of gas and 74 million barrels of condensate.
 
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