Australian operator Western Gas has secured a one-well deal for the provision of semisub Valaris MS-1 to carry out drilling of the Sasanof exploration well offshore Western Australia during Q1 2022.
Drilling will commence at the earliest in mid-February 2022, subject to approvals, with an estimated total campaign duration of 25 days. According to analysts, Western Gas is paying $230,000 per day for the semi.
The drilling campaign will cost around $20m and Western Gas is finalising an agreement with a listed company to farm in to Sasanof-1 to support the funding of the well.
The Sasanof prospect covers an area of 505 sq km and is estimated to contain 24 Tcf gas and 1.1 b bbls condensate, with a geological chance of success of 35% based on Western Gas estimates.