Woodside strikes gas at Toro

Woodside has intersected gas at its Toro exploration site off WA.

According to the company it has hit approximately 150 metres gross gas and 65 metres net gas within the Mungaroo formation target.

It had drilled down to a depth of 3724 metres

"Following drilling, wireline logging has been conducted and confirmed the presence of a gas column through pressure measurements and gas sampling," Woodside said.

"The well will now be plugged and abandoned."

The find is approximately 22 kilometres away from Woodside's existing Ragnar-1A discovery, and sites within its WA-430-P permit in the Exmouth Sub-Basin.

Woodside executive vice president for global exploration, Phil Loader, said "this successful exploration outcomes builds Woodside's gas volumes within the Exmouth Sub-Basin creating options for maximising the value of our Australian assets".

The discovery comes on the back of a massive US$ 2.68 billion shares buyback by Woodside.

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