Woodside finds gas near Pluto

Investors are welcoming news that Woodside Petroleum has made a gas discovery just north of its Pluto LNG project in the Carnarvon Basin.

About 18.5 metres of net gas was intersected at Woodside’s Pyxis-1 exploration well, which reached a total depth of 3.3 kilometres.

Woodside used wireline logging to confirm the discovery through the recovery of gas samples to surface and establishment of a gas pressure gradient.

“Given its location, this successful exploration outcome offers future tie-back potential to Woodside’s existing Pluto infrastructure,” executive vice-president of global exploration Philip Loader said.

The Pyxis-1 well is located 15km north of Woodside’s Pluto gas field infrastructure.

Woodside owns 90 per cent of the production licence Pyxis-1 lies within, with Kansai Electric Power Australia and Tokyo Gas Pluto each holding a 5 per cent stake.

Woodside shares gained 60 cents to $34.97 per share at 9:40am.