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Apache's Phoenix South-1 discovers oil in offshore Canning Basin

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Report summary

On 18 August 2014, Apache (40%, and operator) announced an oil discovery at its Phoenix South-1/ST-1 well in block WA-435-P, located in the Canning Basin, offshore Western Australia. The well intersected four discrete oil columns, ranging between 26 to 46 meters. The initial oil in place estimate is an accumulation of around 300 mmbbls. This well marks the first discovery in the offshore Canning Basin and could be a play opener.

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