Karoon Energy (ASX:KAR) said the Who Dat West exploration well will now be plugged and permanently abandoned following the completion of drilling activities, according to a Monday filing with the Australian bourse.
The well reached a final total depth of 7,147 meters. Based on drilling data, no significant hydrocarbon-bearing intervals were present within the drilled section, per the filing.
The Who Dat joint venture will now kickstart studies on the potential development options for other discoveries in the area, the filing said.
Karoon Energy's shares fell 4% in recent trade.
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