Vali gas field development concept completed

Thursday, September 17, 2020

The ATP 2021 joint venture (Vintage Energy Ltd (ASX: VEN, “Vintage”) 50% and operator, Metgasco Ltd 25% and Bridgeport (Cooper Basin) Pty Ltd 25%) advises that a development concept for the Vali Field has been completed and estimates a field life of around 20 years. The data used for the development concept was generated from the highly successful flow test of Vali-1 ST1, which delivered a stabilised gas rate over a two- day period of 4.3 MMscfd through a 36/64“choke at 942 psi (flowing well-head pressure). The completion of Vali-1 ST1 is due to take place in October 2020. 

  • First production and cash flow expected in Q3 FY21
  • Vali Field life estimated at around 20 years
  • Potential for nine wells, to produce raw gas of ~5 Bcf each
  • Preferred connection point at Santos operated Beckler Field 
  • Reserve assessment underway
  • Independently certified gross 2C Contingent Resource of 37.7 Bcf (18.8 Bcf Net)1
1. Refer ASX release dated 29 April 2020 

The development concept estimates there will be in the order of nine fracture stimulated vertical wells that will target production from reservoirs in the Patchawarra Formation and the Tirrawarra Sandstone. The first two wells in the program are planned to be drilled in first half of 2021, subject to regulatory and joint venture approvals and rig availability, and will also appraise upside potential in sands within the Toolachee Formation and Nappamerri Group. All wells would be connected to a central manifold, with gas planned for transportation via multiple composite pipelines to the Santos operated Beckler Field and then into the Moomba gathering system. 

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Vintage Energy

Vintage Energy has been established to acquire, explore and develop energy assets within Australia that will provide gas to the eastern states.

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