Beach Energy Ltd, through its subsidiary company Acer Energy, is looking for a farm-in partner to participate in developing part of its wet gas project, in PRLs 173 and 174 (previously PEL 101), located in the Cooper Eromanga Basin. When the opportunity was first released, Acer was a subsidiary of Drillsearch Energy. Drillsearch and its subsidiary companies are now part of Beach after a merger which was completed on 1 March 2016.   Acer reported that it is looking for a partner that could fund a share of the full development cycle of the wet gas project, actively participate in the joint venture and is commercially and strategically aligned with Drillsearch (now Beach).Â  Additionally, if interested parties had technical expertise in tight gas drilling operations and have relationships associated with downstream companies that could assist in the sales and marketing of hydrocarbons, these parties were to be given preference in the farm-in selection process. Â   In late May 2015 Drillsearch reported that it was looking to contract a rig to drill three new exploration wells, which are planned for FY2015, along with commencing a wet gas development plan and contracting a rig for further drilling work in 2016.Â  Two appraisal and eight development wells will be drilled in the latter period, with a further ten development wells planned for 2017.  Beach plans to explore and appraise the licences, with an aim to achieve commercial wet gas discoveries to supply a wet gas facility, modelled on the nearby Brownlow/Middleton Project. The work programme was planned is in three stages, which would see the more well defined prospects drilled, followed by drilling on the western edge of the acreage. Finally drilling of some of the leads in the north of the block is planned.   The prospects in PRLs 173 and 174 are outlined to have primary targets within the Permian Toolachee, Patchawarra and Epsilon formations and secondary objectives in the Jurassic Birkhead Formation.Â  There are a number of prospects outlined within the permit, with at least one well required by October 2015 under the current work programme.Â  The first well is outlined by Drillsearch to be likely to target the Kapok Central prospect, which has P50 recoverable reserves of 23Â Bcfg and 0.46Â MMbc.Â  Drillsearch also reports that significant unconventional potential is present within the area.  On 17 February 2015 Drillsearch was granted two retention leases, PRL 173 and PRL 174, over the previously permitted area of PEL 101. As such PEL 101 was relinquished and is now no longer valid.   PEL 101, which covered an area of 154Â sqÂ km, was relinquished on 17 February 2015 following the award of two retention leases, PRL 173 and PRL 174. PEL is now no longer valid.Â  Beach Energy Ltd holds 100% interest and operatorship of both licences, through wholly owned subsidiary Acer Energy Ltd, after joint venture partner Mid Continent Equipment withdrew in September 2018.  Companies interested in pursuing this opportunity should contact:  Janet Skinner, Western and Southern Australia  Tel: +61 8 8338 2833  Email: Janet.Skinner@beachenergy.com.au
Australia, PRL 173