ABN 61 058 454 569
ICON ENERGY LIMITED
2015 Annual Report
9
OPERATIONS REPORT
ATP 855 COOPER BASIN, QUEENSLAND
Icon Energy holds 35.1% equity in ATP 855 covering 414,000 acres and is located on the Queensland and South Australia
border. The current interests in ATP 855 are Beach Energy (
Operator
) 64.9% and Icon Energy 35.1%.
Icon Energy, in conjunction with Beach Energy Limited
(Operator) 46.9% and Chevron Australia 18%, continued
to build on the excellent results achieved in the 2013-
2014 financial year, during which the Joint Venture
(
JV
) drilled five wells; Keppel-1, Hervey-1, Geoffrey-1,
Redland-1 and Etty-1 following on from Halifax-1 well
drilled the previous year. All wells drilled were reported as
Petroleum Discoveries having exhibited good gas shows,
confirming the continuation of the basin-centred gas play
in the Nappamerri Trough, in Queensland, with ATP 855
containing the deepest sections of the Trough.
During the year a multi-well stimulation campaign using
Condor Energy Services Ltd was carried out on four
wells, Hervey-1, Geoffrey-1, Redland-1 and Etty-1. Key
target reservoirs were identified for specific zone fracture
stimulation and flow testing in each well. These tests were
aimed at gathering information on the contribution from
individual target zones, which represented only a proportion
of each well’s capability.
The campaign commenced at Hervey-1 on 15 September
2014 with the hydraulic stimulation of five zones; one in the
Patchawarra Formation, one in the Daralingie Formation and
three in the Toolachee Formation.
Hervey-1 was opened to flow on 22 October 2014 and by
29 October the well was flowing at a rate of 0.6MMscf/d
with 335psi wellhead pressure through a 22/64†choke. The
extended flow test was completed on 28 November 2014
after the flow rate had reduced to 0.2MMscf/d through a
40/64†choke and wellhead pressure of 27psi, and the well
was shut in on pressure build up.
Results from Hervey-1 support the working hypothesis
that these shallower zones are not as over-pressured in the
south easterly part of ATP 855. The component parts of the
gas at Hervey-1 were measured at 69% methane and 31%
CO
2
.
The hydraulic stimulation program at Etty-1 commenced on
11 October 2014 with one zone in the Daralingie Formation
and three zones in the Toolachee Formation.
Etty-1 was subsequently put on extended flow test from
28 October 2014 with the well reaching a gas flow rate of
0.9MMscf/d and declining to 0.7MMscf/d over a period of
77 days, demonstrating excellent flow characteristics and
better than forecast decline rates. Total flow during this period
was 57 million standard cubic feet of gas with a measured
methane content of 70% and CO
2
content of 30%.
