Triple Energy Updates China Gas Drilling Operations

Australia listed Triple Energy on Monday said that Yixin-1 well at the company’s Aolong Joint Venture project in China has spudded.

The company also stated that on September 14, the Niaoshan-1 well reached a depth of 1,153 metres (measured depth) and was drilling ahead approaching the next major coal seams (Seam #15).

Triple Energy holds an 80 percent interest in a Cooperative Joint Venture (CJV, known as Aolong Energy) with LongMay Coal Mining Company, one of China’s largest state-owned coal mining companies.

The CJV has the objective of degassing the coal mining leases held by Longmay and has a life of 45 years.

The equity in the CJV with Longmay is as follows: Triple Energy – 80 percent (operator); LongMay Coal Mining Company – 20 percent.