Santos Ltd spudded the Bugsy 1 exploration well in PPL 165, located in the Cooper-Eromanga Basin, on 19 January 2020. The well was drilled by the "Ensign 974" land rig. On 30 January 2020 the well was plugged and abandoned after encountering oil shows. It has been drilled to a total depth of 2,564 m.  The well is located in close proximity to the Malgoona oil field, which produced between 1990 and 2004.  PPL 165, which covers an area of 4 sq km, was awarded on 27 August 1999. Santos Ltd holds 40.7% and operatorship, with a further 25.9% held through various subsidiaries. The remaining 33.4% is held by Beach through subsidiaries Lattice Energy Ltd and Delhi Petroleum Pty Ltd.
Santos Ltd Bugsy 1 (exploration) PPL 165, Cooper-Eromanga Basin - P&A, oil shows