January 14, 2026
ConocoPhillips Australia is pleased to announce the successful completion of its Phase 1 exploration drilling campaign in the Otway Basin (VIC/P79), marking a significant milestone in the company’s ongoing efforts to support Australia’s energy needs.
The campaign delivered encouraging outcomes at the Essington-1 well in November, with indications placing the primary Waarre A target reservoir as a 62.6-metre gross hydrocarbon column. The secondary Waarre C target shows a further 33.2 metre gross hydrocarbon column as best estimates.
At the second well, Charlemont-1, the presence of natural gas was indicated in the both the Waarre A and Waarre C from wireline logs.
Further detailed analysis and evaluation are required to determine the commercial viability of the results to inform any future development plans. No decisions have been made at this stage regarding the progression to development.
“These well results highlight the potential of the Otway Basin in supporting Australia’s future energy needs. The data gathered will be invaluable as we carefully evaluate next steps”, Jan-Arne Johansen, President, ConocoPhillips Australia.
In line with regulatory requirements and environmental practices, both Essington-1 and Charlemont-1 will be plugged and abandoned upon completion.
As this marks the close of Phase 1 of the Otway Exploration Drilling Program, there is potential to drill additional wells under the approved Environment Plan; however, no decision has been made at this stage and further evaluation will be required before confirming any next steps.
Natural gas has a vital role in providing reliable and affordable energy as the nation transitions its energy systems. ConocoPhillips Australia remains committed to supporting Australia’s domestic gas market, both through its work in unlocking potential new supply in the Otway Basin and its investments in APLNG, which supplies approximately 20% of the East Coast’s gas market demand.
“We are committed to working with partners, regulators, and the community to responsibly assess and develop Australia’s natural gas resources to support domestic households and businesses, as well as the broader economy,” Johansen said.
ConocoPhillips Australia operates the Otway Exploration Drilling Program and holds a 51% interest in the joint venture, alongside Korea National Oil Corporation (29%) and 3D Energi (20%).
ConocoPhillips Australia is part of an industry consortium using the Transocean Equinox rig in the Otway Basin. Operations at Charlemont-1 will likely be completed this weekend (weather and operational conditions permitting), at which stage the Transocean Equinox rig is being transferred for use by another operator in the region.