Australia’s oil and gas player Beach Energy is edging closer to the end of the first phase of its drilling program in Australian waters, which is being conducted by a rig owned by Transocean, an offshore drilling giant.
While shedding light on its Otway Basin drilling campaign progress, undertaken by the Transocean Equinox rig following a weather-related delay, Beach Energy underlined that the program offshore Victoria began during the quarter, with the plug and abandonment of the Geographe 1 and Thylacine 1 wells already completed.
“Strong rig performance saw the operational component of the abandonments completed to schedule and the activities were undertaken safely with no environmental incidents,” explained the Australian firm, adding that the Hercules 1 exploration well was spudded in mid-September 2025 with rig release after quarter-end.
The well, presented as a moderate to high-risk gas exploration prospect targeting the Waarre reservoir, reached a total depth of 2,350 meters, with no significant hydrocarbons encountered. As a result, the well was subsequently plugged and abandoned.
This enabled the Transocean Equinox rig to mobilize to the Bass Basin to carry out plug and abandonment of the White Ibis 1 well, which will complete the first phase of Beach’s Equinox rig campaign.
Brett Woods , Beach Energy’s Managing Director and Chief Executive Officer, commented: “In the Otway Basin, the Equinox rig campaign saw two offshore wells safely plugged and abandoned and the Hercules gas exploration well drilled.
“Hercules was a moderate to high-risk target and failed to intersect hydrocarbons. The second phase of Beach’s Equinox rig campaign is expected to commence in H2 FY26.”
Afterward, the rig will go to work for a consortium member before embarking on the second phase of the Australian operator’s activity, which is slated to start in H2 FY26.
This will include drilling and completing the La Bella 2 development well, completing the Artisan discovery, a well intervention at Thylacine , and abandoning the Trefoil 1 and Yolla 1 wells in the Bass Basin.
Woods highlighted: “As the Federal Government progresses its National Gas Market Review, Beach continues to supply 100% of its East Coast gas production to the domestic market, including selling directly to manufacturers.
“Having supplied 19% of total East Coast gas demand last financial year, Beach is playing a critical role within Australia’s energy landscape.”
After completing the assignment with Beach Energy, the Transocean Equinox rig is scheduled to kick off its work with ConocoPhillips Australia (COPA), a subsidiary of the U.S.-headquartered energy giant ConocoPhillips, in the Otway Basin.