Central Petroleum has contracted Silver City Drilling to drill three appraisal pilot wells at the Range gas project, south of Wandoan in the Surat Basin.
These wells represent the next appraisal stage after a four-well exploration program in 2019 successfully identified a high-quality 2C contingent gas resource of 270 PJ in the proven Walloons CSG play.
If successful, Central said the pilot well program would be the catalyst for the Range joint venture to finalise a bankable full-field development plan in support of a final investment decision (FID).
The Range gas project is being progressed under a 50:50 joint venture between wholly-owned subsidiaries of Central and Incitec Pivot Limited.
In parallel with the pilot activities, the Range joint venture is progressing key State and Federal approvals to accelerate the planned FID and full field development.
“The Range Gas Project is on path to be one of Central’s most significant growth projects and a real boost for the company,” Managing Director Leon Devaney said.
“If successful, Central’s 50 per cent share of the project will result in a
step-change in our reserves base and production rates.
“After the challenges of 2020, I am pleased to hit the ground running in 2021 and begin a year in which we are seeking to drill a number of new wells across our portfolio, beginning with Range.”