LINC Energy has spudded the first of three wells in its drilling program in the Arckaringa basin near Cooper Pedy in South Australia.
The Singapore-listed company’s four-month exploration program in the area is focused on three deep sections of the highly prospective Boorthanna trough, and will intersect targets within the Stuart Range, Boorthanna and pre-Permian formations.
Assessment of the data collected in this first phase of drilling will determine the next development steps.
As the wells are designed to better understand the basin in the first instance, Linc said it would not attempt to stimulate or flow test these wells in this initial program.
Linc executive chairman and former managing director Peter Bond said drilling the wells was the next step needed to unlock the potential of the Arckaringa basin.
“We have a great track record in drilling and appraising under-explored or under-exploited assets and creating significant value for shareholders and we look forward to doing it again,” he said.
The company holds more than 6.5 million hectares within the Arckaringa basin across seven petroleum exploration licences.
Linc has previously expressed its excitement for the area, saying that data from wells drilled to date confirms that formations within the basin have excellent resource play potential with total organic carbon levels, permeability, porosity and thickness comparing favourably to prolific US unconventional liquids plays, including the Bakken, Eagle Ford and Mississippi Lime.