Apache discovered oil pay at its Phoenix South-1 well in the Canning basin, in 435 ft of water, off the coast of Western Australia. Wireline and formation pressure tools have confirmed at least four discrete oil columns ranging in thickness between 85 ft and 151 ft in the Triassic Lower Keraudren formation, within an overall sand-rich section. According to estimates, there could be as much as 300 million bbl of oil in place. Apache (40%) is the operator, with partners Carnarvon (20%), JX Nippon (20%), and Finder Exploration (20%).
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