• Natural Gas News

    Central completes Northern Territory wells

Summary

Central expects to market the gas into spot and term markets over the coming months.

by: Shardul Sharma

Posted in:

Complimentary, Natural Gas & LNG News, Asia/Oceania, Security of Supply, Corporate, Exploration & Production, News By Country, Australia

Central completes Northern Territory wells

Sydney-listed Central Petroleum on September 27 said that drilling of the new production wells, WM27 & WM28, in Northern Territory is complete and Easternwell Rig 27 has been released.

Both wells have been tied in and WM28 is now online and producing from both the Pacoota-1 and Pacoota-3 formations. WM27 was completed successfully as a single zone Pacoota-1 producer and is expected to come online shortly, the company said.

At this stage, the Mereenie development programme is anticipated to add around 10 terajoules/day of wellhead capacity. “The market for gas remains strong, and Central expects to market the gas into spot and term markets over the coming months,” it said.

Given the encouraging flows from the Upper Stairway formation in WM28, Central has started conceptual planning for further appraisal of this resource, subject to joint venture approval.

Central earlier this year announced that New Zealand Oil and Gas and Cue Energy have agreed to acquire an interest in its Mereenie, Palm Valley and Dingo oil and gas fields in Northern Territory’s Amadeus basin. The transaction is scheduled to complete on October 1.