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(Image courtesy of Woodside)

Woodside Petroleum announced on Wednesday that the Toro-1 exploration well in permit WA-430-P offshore Western Australia has encountered gas within the Mungaroo Formation target.

 

The well was drilled to a total depth of 12,217 feet.

Following drilling, wireline logging has been conducted and confirmed the presence of a gas column.

The well will now be plugged and abandoned as planned.

Woodside Executive VP Global Exploration Philip Loader said, “This successful exploration outcome builds Woodside’s gas volumes within the Exmouth Sub-Basin creating options for maximizing the value of our Australian assets.”

Woodside is the operator and 70 percent equity owner of WA-430-P.

Mitsui E&P Australia has the remaining 30 percent equity.