Woodside Petroleum

Woodside Petroleum has increased the company’s best estimate of contingent (2C) resources to 4.48 billion BOE, an increase of 83 million BOE, following two first-quarter discoveries offshore Myanmar. The company announced the discovery of 105 ft of net gas pay in the Block A-6 Shwe Yee Htun-1 exploration well—an increase of 56 ft from an earlier estimate—and 203 ft of net gas pay in the Block AD-7 Thalin-1A exploration well. Woodside’s early success in Myanmar establishes the petroleum system credentials of the Rakhine Basin, where the company is one of the largest acreage holders with interests in six blocks.