Australia’s first home-grown fracture stimulation company, Condor Energy, has fraccing operations underway in ATP 855P (Beach 46.9%, Chevron Corporation 18%, Icon Energy 35.1%) as part of a two-year master services contract.
Yet with wells still flowing back frac fluid MWM said it was wishful thinking to get initial results from Beach’s recent quarterly report.
“With the Condor frac spread commencing a five-stage frac of the Hervey-1 well in mid-September and the spread now rigging up at Redland-1 well, the third of four wells intended to be fracture stimulated, we expect Beach should be in a position to report stabilised production rates in early-to-mid November,” MWM said.
“With 4-5 fracced stages placed in Hervey-1 and Etty-1 across the shallower Daralingie and Toolachee Formations, it appears the joint venture has taken a more targeted approach compared to the comingled tests seen in South Australia.
“Nonetheless, with a decision to enter the second phase program expected by the end of March 2015, initial results could prove important to Chevron's commitment to proceed.”
Condor aims to land a similar contract for the neighbouring PEL 218 block (Beach 70%, Chevron 30%) across the border in South Australia.