Karoon Energy (ASX:KAR) Announces Who Dat West Well Findings
Exploration Well Update
Karoon Energy has concluded its Who Dat West exploration well, MC 629-1, reaching a final total depth of 7,147 metres. Analysis of the drilling data confirmed the absence of significant hydrocarbon-bearing intervals. The well will now be plugged and permanently abandoned.
Operational Achievements
All operational objectives were successfully achieved during the drilling campaign, conducted by the Noble Valiant drillship. A high-quality dataset has been acquired for future evaluations regarding remaining prospectivity within the lease. The Who Dat West site is situated within Mississippi Canyon Block 629, located 31 kilometres from the Who Dat Floating Production System.
Future Development Plans
The Who Dat West well marks the end of the 2024 Who Dat near-field exploration campaign. This campaign resulted in important discoveries at the Who Dat East and Who Dat South wells. The Who Dat Joint Venture will now begin studies on development options for these discoveries. The joint venture interests in Lease 629 include LLOG as the operator with a 30% share, Karoon with 35%, Westlawn Americas Offshore holding 30%, and Houston Energy with 5%.
Karoon’s CEO and Managing Director expresses confidence in the company’s exploratory efforts, as it aims to enhance its asset portfolio and create lasting benefits for all stakeholders.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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