Comet Ridge spuds Albany 1 sandstone appraisal well in Australia

Comet Ridge and its joint venture (JV) partner Vintage Energy have spudded the Albany 1 sandstone appraisal well in Australia’s Galilee Basin.

The 25-day drilling campaign was carried out using Easternwell’s Rig 101.

The company noted that the rig is approaching surface casing point. It is estimated that the well will have a total depth (TD) of 2,775m.

Albany 1 is the second well to be drilled on the sandstone structure after the Carmichael 1 well, which was drilled in 1995 and flowed gas at low rates from three intervals.

The Albany 1 surface location is said to be 220m south-west of Carmichael 1.

The drilling of Albany 1 marks the first phase of Comet Ridge’s farm-out work programme, under which Vintage is farming into the sandstone section of the block known as the Deeps.

Pursuant to the deal reached by the JV partners, Vintage is required to finance the first $3.35m of drilling cost to acquire a 15% interest in the Deeps.

The second phase of the farm-out work programme includes additional drilling and seismic acquisition.

Vintage can increase its stake by a further 15% by funding fund half of the costs related to the second phase programme.

A standard drilling mud will be used to drill the upper sections of the well in order to lubricate the drilling bit and lift rock cuttings out of the well.

On the other hand, the well’s lowest or reservoir section will be drilled with nitrogen.