Mosaic to drill Surat gas well

MOSAIC Oil says drilling on the Taylor-18 gas and condensate well in the Surat Bowen Basin is expected to start within the next 24 hours.

The Century Drilling Rig 7 was being rigged up on the well at 6am this morning, the company said.

Taylor-18 is expected to take about 12 days to drill to a total depth of 2040m.

The well is targeting the interpreted attic gas reserves updip from the Taylor-4 and Taylor-12A oil and gas producers.

Potential P50 reserves for the well are 2 petajoules of sales gas and 75,000 barrels of condensate.

Taylor-18 is about 350m from the tie-in point at the Taylor-4 well.