Vintage Energy boosts Odin gas field with successful Odin-2 appraisal

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By Colin Hay - 
Vintage Energy ASX VEN Odin 2 well successful

Vintage Energy (ASX: VEN) and its joint venture (JV) partners in the Odin gas field have successfully appraised the Odin gas field in Cooper Basin permit ATP 2021, confirming the eastern flank of the field with logged gas pay identified in all of the well’s primary target formations.

Located 1.1 kilometres north-east of the gas-producing Odin-1 discovery well, Odin-2 was spudded in mid-May and will now be cased and suspended as a future gas producer.

Evaluation forthcoming

“Odin-2 has given us a pleasing result,” said managing director Neil Gibbins.

“While the results are preliminary at this stage, it appears the well has fulfilled our objectives of adding another producer to supplement our gas sales from Odin-1,” he said.

“We look forward to completing the interpretation and analysis of the results and working with our fellow joint venturers on agreeing and finalising completion and connection.”

Production appraisal

The Odin gas field is currently undergoing production appraisal, with gas produced being supplied to Pelican Point Power (a joint venture of ENGIE Australia and Mitsui) under a long-term contract extending to December.

Subject to JV approval and the scheduling and execution of field work, it is anticipated that gas from Odin-2 could commence supply this current winter.

Vintage is the operator of the ATP 2021 JV and holds a 50% interest.

Metgasco (ASX: MEL) and Bridgeport (Cooper Basin) each hold 25%.