MELBOURNE, Australia--Origin Energy Ltd. (ORG.AU) said the first of three exploration wells in the Beetaloo Basin in Australia's remote north has been spudded.
The Kalala S-1 well in the Northern Territory, about 500 kilometers southeast of Darwin, will be drilled to a depth of about 2,800 meters, the Australian company said.
Origin is the operator of the Beetaloo joint venture, with a 35% stake. A unit of South Africa's Sasol Ltd. (SOL.JO) has an equal 35% interest in the venture and Dublin-based Falcon Oil & Gas Ltd. (FO.V) a 30% stake.