Real to Drill Queensland CBM Well late Oct
Real Energy has started site preparation and is mobilising equipment for the Venus-1 coalbed methane (CBM) well in Queensland, the Sydney-listed company said on October 20. The drilling is expected to start in late October.
The well will be set up as the first pilot production well for a controlled drawdown production testing which will continue into early 2021. “The results of the production test will also be used to decide to either expand the pilot or, if commercial flow rates are achieved, start an appraisal program designed to certify sufficient reserves to for the Project Venus joint venture to secure gas sales agreements to allow for commercial field development,” Real said.
Project Venus is equally owned by Strata-X Energy and Real, and spans 154 km2 of the Walloon CBM fairway in Queensland’s Surat basin. In July, Strata-X and Real agreed to merge into a new company Pure Energy. Post-merger, Pure Energy will have 100% of Project Venus.