Salamander spuds exploration wells in Indonesia
Oil and gas group Salamander Energy has announced that it has started drilling at its Bontang project in the North Kutei basin in Indonesia.
Oil and gas group Salamander Energy has announced that it has started drilling at its Bontang project in the North Kutei basin in Indonesia.
The company has spud its South Kecapi-1 DIR and DIRA exploration wells in the wholly owned and operated project in East Kalimantan.
South Kecapi-1 DIR will be drilled to a depth of around 2,450m total vertical depth sub sea and, once completed, will be sidetracked around 1.5km to the west with the DIRA well being drilled to a depth of around 2,100m TVDSS.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Salamander said that the wells are targeting gas and oil pay in a series of stacked Pliocene-Upper Miocene sandstone reservoirs.
"The combined mean pre-drill estimate of prospective recoverable resources is approximately 275 Bcf and 20 MMbo," the company said in a statement.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
House prices rise 2.9% – will the recovery continue?
House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
By Katie Williams Published
-
Nvidia earnings: what to expect
Nvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
By Dan McEvoy Published