Australian Cooper Energy’s Sales Gas Production Falls Quarter on Quarter

Australian Cooper Energy’s sales gas production fell by 12% from 2.14 Petajoules in the March quarter to 1.89 PJ in the June quarter, the company said 27 July.

Production during the quarter was impacted by the scheduled annual maintenance shut down at the Iona Gas Plant and the shutting in of the Casino-5 well to address an anomalous annulus pressure reading, it said. Both events were during April.   

“The contribution from the Victorian gas assets acquired effective 1 January was the principle feature of production results for the June quarter,” Cooper said.

“Production of 1.89 PJ of gas and 1,714 bbl of condensate from the Casino Henry and Minerva gas fields accounted for 85% of the quarter’s total production of 0.38 MMBoe,” it said.  

In the Cooper Basin, the company anticipates reserve upgrades following successful drilling during the quarter, it said. And, marketing of uncontracted Otway Basin gas available from March 2018 has commenced.

“These events have the company entering FY18 with strong momentum and set up to complete future value catalysts in our gas strategy,” it said.

The company also said the Sole project is well underway and on schedule for its first production.

“We are set for the finalisation of the project’s outstanding debt finance and regulatory approvals. Site-works are continuing, as is the manufacture and fabrication of components such as umbilical, pipeline and wellheads,” it said.

The Sole gas project involves the development of the Sole field in the Gippsland Basin, offshore Victoria, to supply approximately 25 PJ/yr of gas from 2019. 

Nathan Richardson