Probable Gas Found in All Target Reservoirs at ConocoPhillips' Otway Well

ConocoPhillips has identified probable gas across all targeted Waarre sandstone reservoirs at its Charlemont-1 exploration well in Australia’s Otway Basin, resuming drilling after an earlier pressure-related pause before suspending operations again due to higher-than-anticipated formation pressures.

Australia’s 3D Energi - ConcoPhillips’ partner in the VIC/P79 permit where the well is located, along Korea National Oil Corporation - said drilling has resumed at the Charlemont-1 exploration well, confirming probable gas presence in all three target reservoirs after encountering elevated formation pressures.

The company said drilling into the Waarre C sandstone resumed on January 2, 2026, after operations were paused in late December due to higher-than-expected pressures. Elevated gas readings and resistivity logs recorded during the resumed drilling are consistent with hydrocarbon presence in the Waarre C, B and A sandstones, the company said

Charlemont-1 well is located about 55 km offshore Victoria in 110 meters of water. The well was spudded on December 10, 2025, using the Transocean’s Transocean Equinox semi-submersible drilling rig.

Initial gas shows were recorded at 2,552 meters depth, prompting a temporary suspension to install a sevench-inch liner. Drilling was then safely resumed toward the primary target in the Waarre A reservoir.

As of January 7, 2025, drilling had