Carnarvon JV Completes Seismic Reprocessing Project in Bedout

Carnarvon Energy Limited said it has completed its seismic reprocessing project in the Bedout Sub-basin offshore Australia.

In collaboration with its Bedout joint venture partners, Carnarvon completed the Bedout Mega Merge project, “a major advancement in subsurface imaging and exploration prospectivity definition” across the area, the company said in a news release.

The project integrates 10 seismic surveys, covering 5884 square miles (15,240 square kilometers) and provides more than 80 percent seamless coverage of the Bedout JV acreage, the company said.

The data was reprocessed and merged using modern geophysical techniques by DUG Technology, resulting in a unified, high-resolution dataset, according to the release.

The dataset enhances the definition of the Bedout prospective resource base and associated geological risk profile. The joint venture is using the dataset for guidance in identifying areas with high exploration potential, the company said.

Insights gained from the dataset will directly inform selection of the 2026 exploration target and guide the future Bedout exploration strategy, Carnarvon said.

The joint venture continues to prepare for the submission of the multi-well drilling environmental plan required for future exploration activities, with drilling planned to commence in the third quarter of 2026, the company said.

The second phase of the project will apply quantitative interpretation and seismic inversion techniques to refine further subsurface predictions, particularly regarding rock lithology for reservoir and seal characterization. The ongoing phase will support high-grading of prospects for future drilling, according to the release.

Carnarvon CEO Philip Huizenga said, “The recently completed Mega Merge Project has provided our technical team an unparalleled, coherent view of the Bedout Sub-basin’s sub-surface, encompassing our discoveries, identified prospects and potential new targets”.

“The quality and clarity of the merged dataset enables Carnarvon to confidently assist with finalizing our drilling target for the proposed 2026 drilling campaign with a focus on maximizing resource volume upside,” Huizenga continued.

“The exploration potential in the Bedout Sub-basin is unrivalled in Australia, and Carnarvon is very excited to continue this journey. I look forward to the commencement of drilling, which is expected to be in the third quarter of 2026,” he concluded.

In January, another of Carnarvon’s joint ventures decided against moving forward with the Dorado phase 1 liquids development offshore Western Australia.

The Dorado joint venture did not push through with purchasing the floating production storage and offloading (FPSO) vessel that had been identified as an option for the project. Santos Limited, the operator of the asset, has also decided not to proceed with front-end engineering and design (FEED), Carnarvon said in an earlier statement.

With the deferral of FEED entry, the previous target for a final investment decision in 2025 was also postponed, according to the statement.

The Dorado joint venture consists of Santos with an 80 percent stake, Carnarvon with 10 percent, and CPC Corporation subsidiary OPIC Australia Pty Ltd with 10 percent.

Carnarvon recently entered into a subscription agreement under which it may invest up to $58.9 million (AUD 89 million) to acquire up to a 19.9 percent interest in Strike Energy Limited at AUD 0.12 per share.

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