Lakes Blue Energy (ASX: LKO) has released an update on drilling operations at the Wombat-5, side-track-2 (ST-2) well in the Gippsland Basin, Victoria. Lakes Blue Energy is an Australian energy company focused on the exploration and development of natural gas resources. As of 8:00 am AEST today, the well’s current depth is 1,256 metres below the rotary table (mRT), with 14 metres of progress achieved in the last 24 hours. The company is currently drilling an 8-1/2” hole, with the last casing point set at 302.4 mRT.
The drilling is currently within the Latrobe Group formation, targeting the Strzelecki Formation at a depth of 1,360 mRT (TVD). According to the announcement, there have been no lost time injuries (LTIs) related to health, safety, and environment (HS&E) during this phase of the operation.
The contractor is currently picking up a new directional bottomhole assembly to run back into the hole. The existing assembly was pulled to change the drill bit, following a slow penetration rate. Drilling had progressed to 1,256 mRT with an inclination of approximately 24 degrees. The slow penetration rate was suspected to be caused by balling of the bit or stabiliser due to claystones. Upon inspection, clays were found packed off around both the bit and the stabiliser.
The announcement was authorised by the Board of Lakes Blue Energy. Further enquiries can be directed to Chairperson Roland Sleeman.
