FAR announces prospective resources of 447 MMboe at 2 permits in Western Australia (Scandinavian Oil-Gas Magazine)

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FAR announces prospective resources of 447 MMboe at 2 permits in Western Australia

Published Mar 14, 2014

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FAR Ltd., Australia's independent oil and gas explorer, reported that a geotechnical evaluation of the company's offshore Western Australia exploration permits WA-457-P and WA-458-P in Australia’s Dampier Basin has identified multiple prospects with total prospective resources amounting to 447 million barrels of oil equivalent, or MMboe, (unrisked best estimate basis) net to FAR.

Existing extensive vintage 3D seismic and 2D seismic data covering both permits as well as exiting well data were used to calculate the resource estimates.

The permits are located within an active petroleum system on the North West Shelf and are surrounded by oil and gas discoveries. Water depths are 82 to 361 feet (25 to 110 meters).

Tags: FAR Ltd

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