Vintage Energy (ASX: VEN) is celebrating its 100% success rate from a three-well drilling campaign in the Cooper Basin with the announcement that its Vali-3 well has now been cased as a future gas producer.
Vali-3 reached a total depth of 3,186m last Monday and the rig, which also drilled the previous two Vali wells, has now been released.
Wireline logging has been completed and the well has been cased and suspended, to be available for future production.
According to Vintage’s announcement, wireline logs confirmed the interpreted gas pay within the Patchawarra formation was in line with pre-drill expectations.
Further gas shows were observed in the lower Nappamerri Group, Toolachee and Epsilon formations and the Tirrawarra sandstone during drilling. Samples from Nappamerri and Toolachee will be analysed to determine whether gas pay can be interpreted in these zones. Vintage expects to release these results in the coming weeks.
All three Vali wells now cased for future gas production
Vintage operates the Vali field with a 50% interest while project partners Metgasco (ASX: MEL) and private company Bridgeport Cooper Basin each hold 25% stakes.
Vali-3 marks the third and final well drilled in Vali field to date with all three now cased for future production.
It follows Vali-2 which was cased and suspended in May after confirming the presence of gas in the Toolachee and Patchawarra formations.
Prior to drilling Vali-2, the field was independently certified to host 2P (best estimate) gross reserves of 30.3 billion cubic feet of gas, or 33.2 petajoules.
In a separate announcement, joint venture partner Metgasco said well evaluation data from Vali-2 and Vali-3 will be provided to energy consulting group ERCE to provide an independent gas reserve assessment in the coming weeks.
“The Vali-3 results provide further confidence that the joint venture will progress rapidly to a financial development decision of the Vali field in the second half of calendar year 2021,” Metgasco chief executive officer Ken Aitken said.
“The joint venture is excited by the continued success from its drilling program and look forward to progressing plans for production from these exploration and appraisal wells,” Vintage added.