Santos finds oil in Pavo wildcat

Santos Ltd. made a significant oil discovery at Pavo-1 in Bedout subbasin offshore Western Australia that could add value to the existing Dorado oil and gas discovery 46 km to the west.

Pavo-1, in permit WA-438-P, was drilled on the northern culmination of the overall Pavo structure and encountered a 60 m gross thickness of oil column in the primary Caley member reservoir.

Wireline data confirmed 46 m of net oil pay with an oil-water contact intersected at 3,004 m, Santos said.

Reservoir quality is interpreted from logs to have an average porosity of 19% and permeabilities in the 100-1,000 milidarcy range. Hydrocarbon saturations average 80%, similar to those encountered at Dorado field.

Santos, as operator, has completed wireline logging operations to collect pressure, sample and rock data across the Caley reservoir. Rig site analysis indicates the oil is a light, sweet variety with an API value of about 52 degrees and a low gas-oil ratio.

A 2C contingent resource for the Pavo northern accumulation has been assessed at 43 million bbl of oil.

The result de-risks the potential of the separate southern culmination in the structure which has been estimated to have a P50 prospective resource of 40 bbl.
Next steps

The well result is expected to support a potential tie-back to the first phase of the proposed Dorado development with Pavo north having an estimated breakeven cost of less than US$10/bbl, said Kevin Gallagher, Santos managing director and chief executive officer.

Pavo also de-risks nearby prospects including the next well in the program, Apus-1, in WA-437-P which lies 31 km southeast of Dorado.

Pavo-1 is being drilled by jackup rig Noble Tom Prosser in a water depth of 88 m. The well is drilling ahead to planned total depth of about 4,200 m to focus on early Triassic and upper Permian stratigraphy not previously drilled in the basin.

Upon final logs at total depth the rig will be moved to Apus-1 about 20 km southwest.

Santos has 70% interest in Pavo. Carnarvon Energy Ltd. has 30%.

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