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Icon Energy Ltd. signed a drilling contract with Atlas Drilling Co. Pty. Ltd. to drill the North Maroon DW1 well in ATP 626P about 30 km south of the Moonie oil field in the Surat Basin in Queensland.
The well will test the oil and gas potential of the Precipice Sandstone, which is the producing reservoir in the Moonie field.
The well is expected to take 21 days to drill to a deviated depth of 2,100 m (6,930 ft), using Atlas Rig No. 1, and will be operated by Icon Gas Productions Pty. Ltd., a wholly owned subsidiary of Icon Energy.
"The rig is expected to arrive on site on Nov. 23, so as to spud the Nov. 24," said Icon Energy managing director Ray James. "Rain is expected in the area over the next few days so there could be some delay experienced with the spudding of the well.”
Icon Energy will hold a 100% interest in the well, following Goondi Energy Pty. Ltd. electing not to participate in drilling a conventional oil and gas play.
James explained that the well is part of an ongoing program in the ATP626P Permit and that the coal-seam-gas potential will also be evaluated on the way down to the primary objective below the Walloon Coal Measures.