Metgasco Plans to drill 1000 Wells

Australian coal seam gas player Metgasco will need about 1,000 wells operating in the Casino area of northern New South Wales to make its economic forecasts come true, ABC news reported.

Metgasco plans to inject about $2 billion into the Northern Rivers economy over the next 20 years. It also predicts 1,000 jobs will be created during the construction phase, with about 950 permanent positions available when production starts.

Metgasco's chief executive, Peter Henderson, says the number of wells needed could shrink as technology improves.

"In round figures about 1,000 wells or so, but the number of wells depends on a whole range of factors," he said.

He said that the number of wells will depend also on the productivity. If we produce more gas per well, then the number of wells can be reduced, he added.

"Clearly that's the goal we have, to minimise our own cost but also to minimise the imprint we have on the land," he said.