Comet Ridge secures new gas block in Queensland

Australian gas company Comet Ridge has been awarded an additional gas block by the Queensland government in the Mahalo gas hub area, it announced on June 17.

The new block, PLR2023-1-1, named Mahalo Far East Extension, covers an area of 66 km² and is situated immediately north of the Mahalo East and west of the Mahalo Far East blocks. Comet Ridge will be the operator of the new block on a 100% equity basis.

The southern portion of the new block lies over the fairway, which will incorporate future production wells into the development plan. This new block does not contain any Queensland government domestic market supply obligations, the company said.

Over the next few months, the company will progress a standard condition environmental approval (EA) and Native Title arrangements to secure the formal authority to prospect (ATP).

This new block award follows closely on Comet Ridge being granted A$5mn ($3.3mn) by the Queensland government to undertake a pilot test in the Mahalo East block.

“The new block award and recent grant funding are further endorsements from the Queensland government of the significant position that Comet Ridge has established in the Mahalo gas hub area within the Bowen Basin and its plan to be the next gas development area to supply gas to the Queensland domestic gas market,” the company stated.

The Mahalo gas hub area, where Comet Ridge operates, encompasses the Mahalo gas project, Mahalo North, Mahalo East, and Mahalo Far East.