The Vali-1 ST1 gas exploration well was drilled to a total depth of 3,217metres measured depth in basement
Metgasco and its partners have identified gas at the Vali-1 ST1 gas exploration well which is located in Cooper-Eromanga Basin licence ATP 2021 in Australia following the drilling programme.
Located on the Queensland side of the Cooper- Eromanga Basin, the 370km² ATP 2021 permit is highly prospective with drill-ready prospects identified by 3D seismic.
The Vali-1 ST1 gas exploration well, which was drilled to a total depth (TD) of 3,217m measured depth in the basement, was being conditioned for further wireline logging, Metgasco said.
The well’s primary target is in sandstones of the Patchawarra Formation, with the secondary objective being the Toolachee Formation.
Metgasco said: “Initial log analysis indicates that gas has been intersected in multiple sands in the primary Patchawarra Formation target. To date, this gas saturation has been calculated in the upper section of the Patchawarra, above the VC50 coal.”
At the end of conditioning operations, the partners are planning to acquire log data across the section below the VC50, as the section exhibited strong shows.
Australia-based Vintage Energy is the operator of the ATP 2021 joint venture with 50% stake while Metgasco and Bridgeport (Cooper Basin) own 25% stakes each.
Metgasco is free carried for the drilling of Vali-1 ST1 well
In line with farm-out agreements with Vintage Energy and Bridgeport Energy, Metgasco is free carried for the drilling of Vali-1 ST1 well.
Metgasco chief executive officer Ken Aitken said: “Metgasco believes that the Vali-1 ST1 results provided by wireline logs to date are very encouraging and we still have the lower Patchawarra to evaluate.
“We look forward to finishing the well reservoir evaluation and to updating shareholders shortly.”
In December 2019, Vintage Energy and its joint venture (JV) partner Otway Energy have spudded the Nangwarry-1 well in the onshore Otway Basin in Australia.
With the planned total depth (TD) of the well being 4,350m, the drilling and logging operations were expected to be completed in nearly 45 days.