Vintage Energy Updates on Queensland Gas Project
Sydney-listed Vintage Energy November 7 said that the two well appraisal drilling programme on the Albany gas field in the Galilee Basin in Queensland will shortly be followed by a stimulation and gas flow testing programme to determine the commercial potential of the field.
Vintage managing director Neil Gibbins said that the positive outcomes of the Albany field appraisal thus far provide a strong impetus for the completion of the next stage in the programme.
“We identified the Galilee Basin a while back as an area that is underexplored with significant potential. The information gathered from the drilling programme to date has not only confirmed but enhanced this perspective. We will be stimulating these wells and flow testing them over the coming months, which will provide even more valuable information around the commercial viability of these untested reservoir sands. With both APA Group and Jemena progressing plans to connect the Galilee Basin to the eastern Australia gas market, we very much look forward to what lies ahead,” he said.
The next steps in the evaluation of the Albany Field will be to stimulate the reservoirs and flow-test the two wells, Albany-1 ST1 and Albany-2, to demonstrate the potential commercial viability of the wells, Vintage said.
According to the company, the Albany wells form the core activity of the Galilee Basin Deeps Joint Venture with Comet Ridge to date. Vintage has a 30% equity stake in the joint venture, with the operator Comet Ridge having the remaining 70%.