25 July 2017drilling result▲ Good
Beach, Senex's 40% partner, announces the same Marauder-1 Birkhead oil discovery: 655 bopd on test and up to 8.6m net pay. The well will be cased and suspended as a future producer. Repeats Senex's announcement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 July 2017drilling result▼ Bad
June report: Immortals-1 (PEL 182, Senex 57%) hit non-commercial Birkhead oil shows and was plugged, ending the three-well PEL 182 campaign. Obelix-1 (Senex 12%) had uneconomic shows. Two more Surat wells were drilled and Silver Star-1 DW1 collapse is confirmed; Marauder-1 is due to be drilled in early July.
5 July 2017drilling result● Neutral
Partner Beach's June drilling report covers its own Cooper wells. For Senex, it confirms Immortals-1 in PEL 182 (Beach 43%, Senex 57% operator) was plugged for lack of commercial pay, and notes Birkhead testing is planned in FY18.
19 June 2017drilling result▼ BadMajor
Unstable coals collapsed in the Silver Star-1 DW-1 horizontal section while casing was run, damaging the casing. The well is suspended while replacement casing is procured. The joint venture still plans frac and testing in first half FY18; weekly reporting paused.
14 June 2017drilling progress report● Neutral
Planet Gas reports the Silver Star-1 DW-1 lateral of 1,180m is drilled with gas saturation in line with expectations, and production casing is being set. Fracture stimulation and testing to follow. Largely repeats the 7 June update.
7 June 2017drilling progress report▲ Good
Silver Star-1 DW1 reached 4,969m on 1 June with a 1,180m horizontal section; gas saturation was in line with expectations. Fracture stimulation and testing expected early FY18. The 30-well Surat drilling starts in June; Immortals-1 is next in Cooper.
29 May 2017drilling progress report● Neutral
Planet Gas repeats the Silver Star-1 DW-1 position of 4,490m, unchanged from the prior week. No new information.
22 May 2017drilling progress report● Neutral
Planet Gas reports the Silver Star-1 DW-1 lateral at 4,490m on 22 May. Drilling continues.
15 May 2017drilling progress report● Neutral
Planet Gas reports the Silver Star-1 lateral is at 4,224m on 15 May. Drilling continues.
9 May 2017drilling progress report● Neutral
Planet Gas reports the Silver Star-1 lateral, begun 25 April, is drilling ahead at 3,839m. Up to 1,500m of lateral planned, then fracture stimulation.
3 May 2017drilling progress report▲ Good
Silver Star-1 reached 3,770m with gas shows, and met the joint venture's criteria for a horizontal section, Silver Star-1 DW1, now being drilled to about 5,200m. Fracture stimulation and testing expected early FY18. Immortals-1 planned in Q4 FY17.
2 May 2017drilling progress report● Neutral
Planet Gas reports the lateral section of Silver Star-1 is being drilled, after the vertical hole reached 3,770m. Fracture stimulation and testing to follow. Repeats known information.
26 Apr 2017drilling progress report▲ Good
Planet Gas reports Silver Star-1 reached 3,770m with gas shows in the Patchawarra primary target. The well met the criteria for a lateral section of up to 1,500m, with fracture stimulation and testing to follow.
18 Apr 2017drilling progress report● Neutral
Planet Gas reports Silver Star-1 at 3,565m on 16 April, with gas shows now also in the primary Patchawarra target. Drilling continues toward 3,780m.
10 Apr 2017drilling progress report● Neutral
Planet Gas reports Silver Star-1 at 3,343m on 9 April, with gas shows in secondary Toolachee and Epsilon coals. Planned depth raised to 3,780m.
5 Apr 2017drilling result▼ BadMajor
Hoplite-1 and its sidetrack in PEL 182 (Senex 57%) were plugged and abandoned: the drill stem test flowed free oil but not at commercial rates. Senex calls it encouraging for the Birkhead play; a third PEL 182 well is planned in Q4 FY17. Silver Star-1 is drilling ahead.
5 Apr 2017drilling progress report● Neutral
Beach Energy's March report is mostly about its own wells, including gas discoveries on its own acreage. For Senex's PEL 182, it repeats that Hoplite-1 and its sidetrack were abandoned for insufficient pay. Nothing new for Senex.
3 Apr 2017drilling progress report● Neutral
Planet Gas reports Silver Star-1 at 2,738m on 2 April, drilling toward a casing point at 3,380m. No result yet.
27 Mar 2017drilling progress report● Neutral
Planet Gas reports Silver Star-1 (Senex 53.75% operator) at 1,686m on 26 March, drilling the intermediate hole toward 3,600m planned depth. Routine progress, no result yet.
20 Mar 2017drilling progress report● Neutral
Planet Gas reports Silver Star-1 spudded on 17 March 2017 and was at 175.5m on 19 March, drilling surface hole. Planned depth remains 3,600m with Senex operating at 53.75%.
14 Mar 2017drilling spud● Neutral
Partner Planet Gas announces drilling has begun at Silver Star-1, to about 3,600m at about $15m gross. Its 12.5% is carried by Origin and Senex. Repeats Senex's announcement of the same day.
14 Mar 2017drilling spud● NeutralMajor
Senex begins drilling the Silver Star-1 gas exploration well in PEL 638 (Senex 53.75% operator), costing about $15m to roughly 3,600m, with Origin carrying Senex's share. Follows Efficient-1 and Ethereal-1; the latter awaits a nitrogen lift test.
1 Mar 2017drilling result● NeutralMajor
Sparta-1 in PEL 182 (Senex 57%) was plugged and abandoned for insufficient commercial pay, a dry hole. Hoplite-1 found 17 metres of gross Birkhead pay with good oil shows, and a drill stem test is under way. A third well is planned for Q4 FY17.
1 Mar 2017drilling progress report● Neutral
Beach Energy's February report, mostly about its own wells. For Senex's PEL 182 (Beach 43%), it confirms Sparta-1 was abandoned and Hoplite-1 reached 2,200m with a 17 metre gross Birkhead interval to be tested. Repeats Senex's report.
2 Feb 2017drilling result▲ Good
Spitfire-8 appraisal well reached 1,827 metres and found 7.2 metres of net pay in the Birkhead reservoir; cased and suspended, online expected Q3 FY17. The rig moves to Sparta-1 in PEL 182 in early February. Extends the Spitfire field.
1 Feb 2017drilling progress report▲ Good
Beach Energy's January report, mostly on its own wells. For Senex, it notes Spitfire-8 (Senex 60% operator, Beach 40%) was cased and suspended after about seven metres of net pay, results in line with pre-drill estimates, and expected online in Q3 FY17.
11 Jan 2017drilling progress report▲ Good
December monthly drilling report confirms Worrior-11 found 11.3 metres of net pay and is expected online in Q3 FY17. The rig moves to Spitfire-8 in mid-January. Repeats the partner's earlier result.
4 Jan 2017drilling result▲ Good
Worrior-11 reached 1,669 metres and was cased and suspended, with a 5.2 metre net oil column in the lower Birkhead/Hutton target plus further oil in the mid-Birkhead and McKinlay. Reported by partner Cooper Energy; a small development success for the Worrior field.
22 Dec 2016drilling spud● Neutral
Cooper Energy, Senex's 30% partner in PPL 207, reports Worrior-11 spudded on 21 December 2016. It is an oil development well with a planned depth of 1,632 metres, expected to take about nine days. This starts the campaign announced on 2 December.
2 Dec 2016drilling scheduled▲ GoodMajor
Senex starts its FY17 Cooper Basin drilling campaign, with Worrior-11 spudding mid-December, then Spitfire-8, then Sparta-1 and Hoplite-1 oil exploration wells in PEL 182 in early 2017. Silver Star-1 gas well (about $15m, Origin carrying Senex's share) is due to spud in February after rig delays.