Vintage books "outstanding" material gas resource at Odin
Sydney-listed Vintage Energy on September 16 said it had booked an increase of almost 190% in the material gas resource at its majority-owned Odin field in Queensland’s Cooper basin.
"The material booking of contingent resources for the Odin gas field, an increase of almost 190% on the pre-drill prospective resources, is an outstanding result,” Vintage managing director, Neil Gibbins said. “The Odin and Vali gas fields combined constitute a sizeable and potentially scaleable Cooper basin gas province that we believe will supply significant quantities of gas to the east coast of Australia for at least the next twenty years.”
According to the company, the Odin field now has independently certified gross 2C contingent resources of 36.4bn ft3. Of this, 16bn ft3 is net to Vintage, which is the operator of the field via two permits PRL 211 and ATP 2021.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
Vintage has 42.5% interest in PRL 211 while Metgasco has 21.25%, Bridgeport has 21.25%, and Impress has 15%. In ATP 2021 Vintage has 50% ownership while Metgasco has 25%, and Bridgeport has 25%.
“We were confident that Odin would over-deliver once extensive gas shows through a number of target zones were observed, but to have this confirmed and independently certified by ERCE is a massive boost for all concerned,” Gibbins said.
Vintage has also recently sent updated information from the recent Vali-2 and Vali-3 drilling campaigns to ERCE to update their review of reserves for the Vali field.
“I believe that the oil and gas sector has been heavily discounted for some time now. As the world transitions toward carbon neutrality, natural gas has an important role to play in reducing emissions through delivering cleaner energy to homes and businesses. To this end we are excited and ready to play our part in this transition in the years to come.,” Gibbins said.