Bow pulling the right strings
BOW Energy has achieved its reserves target for the Don Juan coal seam gas project a year ahead of schedule after independent certifiers tripled its 2P certified reserves to 101 petajoules.
The company said independent certifiers MHA Petroleum Consultants certified an additional 66.7PJ for the Taroom Coal Seams, adding to the earlier 34.2PJ certified for the Juandah Coal Seams.
Bow now has a net total of 55PJ of 2P (proven and probable) reserves, 10% more than its year-end 2010 target for the project.
Bow commercial chief executive officer John De Stefani told PNN the company was now investigating the potential supply of gas from the project to domestic markets via the Queensland gas pipeline, 15 kilometres away.
“There is capacity going south without any upgrades required in the pipeline, so we could do domestic deals for gas heading south.”
He added that the gas could also be fed into the smaller-scale LNG projects at Gladstone if required but the pipeline would require upgrades.
The Don Juan CSG project covers ATP 771P and ATP 593P in the western part of the Surat Basin, and is adjacent to BG Group’s Lacerta CSG field.
Currently, all certified reserves to date are within ATP 771P.
De Stefani told PNN the company was starting to look into plans for ATP 593P but its current focus was on the Blackwater field in the Bowen Basin.
“We believe the field does migrate further west into 593... but at the moment our focus is particularly in Blackwater where we have some significant reserves there already.”
In August, independent certifiers certified 559PJ of 3P (proven, probable and possible) gas reserves for the Rangal Coal Measures within the Blackwater field in the southeast area of the Comet block.
Earlier this month, the company began a nine-well 2P drilling program at Blackwater and is expecting further reserve upgrades by year-end from the field.
Following the nine-well program, a seven-well 3P program would start in the Norwich Park Block.
The Blackwater CSG field is located in the centre of Australia’s top CSG provinces and lies 230km west of the port of Gladstone.
Wednesday, 21 October 2009
PNN
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