Drillsearch cranks up Cooper CSG resource
DRILLSEARCH Energy’s confidence in its Western Cooper Basin unconventional gas project has received a boost after the second phase of an independent technical review increased the prospective resource potential by more than 360%.
The review, carried out by MBA Petroleum Consultants, estimates the project has a prospective coal seam gas resource of 9.9-19.9 trillion cubic feet of gas.
A previous review estimated a prospective resource of 2.7-5.4tcf.
The in-place CSG resources have also increased, up 266% from 10.9tcf to 39.9tcf.
The second-phase review is based on extensive data from more than 450 conventional oil and gas well logs.
Managing director Brad Lingo said the company was encouraged by the results of the independent review for the overall unconventional resource prospectivity of the Western Cooper project.
“Our own exploration drilling in this area has shown that there are multiple, thick coal seams and the well logs has indicated significant gas contents,” he said.
“Previously this has been considered a drilling problem rather than an opportunity worth exploring further.
“The independent review confirmed that these coal seams are extensively distributed throughout our acreage from a detailed analysis of 450 wells in the area and our extensive seismic coverage – both 2D and 3D – of the area.”
Lingo added that the review provided the company with a clear road map of where to focus efforts to convert the prospective resource into contingent resources and reserves.
Drillsearch is working with MBA and Advanced Well Technologies to devise a forward work program that would include a core program and pilot project, to start the evaluation of the resource potential.
“In order to manage the cost of this program, we are looking to integrate this evaluation into the appraisal and development of the conventional wet gas discoveries we have already made in the project area and as part of the exploration program for the conventional 22 wet gas prospects already identified,” Lingo explained.
“With the potential resources we are trying to prove up from these prospective resources, if these can be successfully established as a commercially viable resource and developed, there is significant opportunity for a very big project.”
The Western Cooper project covers PEL 106,107, 91 and the newly awarded PELA 513.
Drillsearch operates 78% of the project area and holds 100% interest in 63% of the project area.
Thursday, 4 March 2010
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