Australian oil and gas explorer Whitebark Energy has launched the sale process of its wholly-owned Warro gas field in Western Australia (WA).

Covering an area of 7,000ha, the Warro gas field is located in blocks EP 407 and EP 321 onshore, within the Perth Basin, and at a depth of 3,750m.

The field is claimed to be one of the largest undeveloped onshore gas fields in WA.

Whitebark Energy said it is evaluating opportunities to maximise the full potential of the Warro gas field.

Whitebark Energy managing director David Messina said: “The Warro field contains an enormous amount of gas, but it requires an operator with the expertise to commercialise a technically challenging field and leverage off the work that has already been undertaken.

“Whitebark has had success at the Wizard Lake oil project in Canada and will continue to focus there. The lifting of the Moratorium in WA and the increasing interest in new gas sources in WA means that we can identify and consider options on how best to develop and realise value from our remaining Western Australian asset.”

Equity Partners appointed to facilitate the sale process

Adelaide Equity Partners has been appointed by Whitebark to facilitate the sale process, which may involve an outright sale, farm-in or an alternative transaction structure.

According to estimates, the field holds 7-10 trillion cubic feet (Tcf) in place and potentially 1-3 TcF of recoverable gas.

Last year, Whitebark Energy announced the completion of drilling of up to 3,673m measured depth (MD) at the Rex-3 well ahead of schedule, at the Wizard Lake oil field in Alberta, Canada.