Triangle Energy readies Perth basin exploration drilling

Triangle Energy Global Ltd. secured the Silver City Rig 24 for the Becos-1 exploration well to be drilled in the EP 437 permit in Perth basin, Australia.

Primary targets are Arranoo and Bookara sandstones at 700-800 m measured depth (md). There is potential for the well to encounter a further reservoir in the Kingia sandstone if present at the location, the operator said. The rig is expected to be on location for 12 days. Drill time of 7 days is expected. 

The well will target a resources range of 1-21 million bbl with a best estimate of 5 million bbl and a chance of success of 20%.

The contract with Silver City Drilling follows the recent receipt of the Environmental Plan for Becos. The rig is mobilizing from Canning basin and will relocate to Perth basin to undertake a series of well workovers prior to commencing the Becos-1 well. The workovers are to be undertaken on a 12-hr operations basis rather than 24-hr operations, with a break over Christmas. Thus, the rig will mobilize to Becos-1 at end March 2025. 

EP 437 comprises the exploration permit surrounding the L7 production license for Mount Horner oil field (OGJ Online, Mar. 20, 2023). The EP 437 JV is comprised of Triangle (50%) and subsidiaries of Strike Energy Ltd. (25%) and Echelon Resources (25%).