Woodside finds more gas near Pluto
UPDATE 2.20pm: Woodside has discovered gas at its Pyxis-1 exploration well off the coast of Dampier near its existing Pluto project.
The company said it had intersected approximately 18.5 metres of net gas within the Jurassic sandstone target in production licence WA-34-L.
It said the well had reached a total depth of 3347 metres and wireline logging had confirmed the discovery through the recovery of gas samples to surface and establishment of a gas pressure gradient.
Woodside's executive vice president of global exploration, Philip Loader, said given its location, the find offered future tie-back potential to the company's existing Pluto infrastructure.
WA-34-L is majority owned (90 per cent) and operated by Woodside with Kansai Electric Power Australia and Tokyo Gas Pluto each holding a 5 per cent stake.
Woodside shares were up 70 cents, or 2.04 per cent, to $35.07 at the close.
Energy stocks benefited today from a rebound in crude oil prices to $US53.98 a barrel in New York, the highest level for 2015 so far.
