Woodside discovers more gas at Toro

Woodside Petroleum has discovered a substantial amount of gas at its Toro-1 exploration well about 150 kilometres north of Exmouth.

The company announced that it had intersected about 150 metres gross gas and 65 metres net gas in the well, located within the Mungaroo Formation target in exploration permit WA-430-P, after the well reached a total depth of 3,724 metres. 

Following drilling, wireline logging was conducted and confirmed the presence of a gas column through pressure measurements and gas sampling. 

“This successful exploration outcome builds Woodside’s gas volumes within the Exmouth sub-basin creating options for maximising the value of our Australian assets,” Woodside executive vice-president global exploration Philip Loader said.

Woodside is the operator and 70 per cent equity owner WA-430-P, with Mitsui E&P Australia holding the remaining 30 per cent.

The well will now be plugged and abandoned as planned, according to Woodside.

Woodside’s share price rose by 0.73 per cent to $41.58 at 10:15am WST.