Armour Energy has acquired QGC’s interest in ATP 647 on the Roma Shelf of the Surat basin in Queensland, Australia.
The Brisbane-based company now owns 100% of ATP 647 which is situated to the east of its PL 227 block and the Myall Creek field.
An independent review of Armour’s Surat basin assets demonstrated 2P petroleum reserves of 56.8 PJ of gas, 565,000 bbl of condensate and 117,000 tonnes of liquefied petroleum gas in place.
The Myall Creek field features estimated gas reserves of 42.1BCF (44.4 PJ), 441 kbbls of condensate and 92 kTonnes of LPG.
Armour stated that with this acquisition, it can now tap into the mature but, undeveloped, wet gas conventional and tight wet gas plays in Permian and Triassic reservoirs of the Bowen-Surat Basin.
The existing Myall Creek East 1 well, located in the southwest corner of the block ATP 647, is presently suspended and is now being considered as a candidate for stimulation and potential connection into the Myall Creek field gathering system and compressor station.
Armour said: “This will provide Armour with another low cost operation to add to our growing portfolio on the Roma Shelf, and provide it with reserve growth and further production capacity to supply the domestic market.”
Last year, Armour stated its intentions to restart gas production at the Kincoara project located in the Roma Shelf and has merged the initial three-phase programme into a two-phase programme.
In the first phase, gas production began and ramped up to 9 Tj/d. The target was to achieve first gas production in this first quarter and the balance of the restart was to be completed by the end this second quarter.
The second phase of the project will involve drilling of new wells and workovers and stimulations of existing wells to achieve a ramp up of gas production to 20 TJ/d between 12-18 months from first gas production.
Image: Armour’s ATP 647 in Surat Basin. Photo: Courtesy of Armour Energy.