Vintage Energy and Metgasco Report Early Gains From Cooper Basin Production Uplift Program
Vintage Energy (ASX: VEN) and joint venture partner Metgasco (ASX: MEL) have delivered encouraging early results from the first phase of a production uplift program at the Odin and Vali gas fields in the Cooper Basin.
The program, launched in July after flood disruptions, is addressing scale build-up and restoring well performance across the joint venture fields.
Initial interventions have lifted raw gas output to 2.9 million standard cubic feet per day (MMscf/d), up from 2.5 MMscf/d prior to the works.
Positive Phase 1 Work
The first stage of the program confirmed significant scale accumulation at Odin-1, Odin-2, the Odin facility, and Vali-2, while it saw indirect signs of the same issue at Vali-1.
Treatment with an acid solution removed the scale effectively and at low cost, confirming the merit of this approach to maintaining production rates.
At Odin-1, removal of recurring scale enabled the well to return to production at 2.1 MMscf/d compared with 1.8 MMscf/d before treatment, while Odin-2 also responded to chemical treatment, sustaining flow rates of between 0.3 and 0.5 MMscf/d over several days.
Although Vali-1’s upper formation did not yield measurable flow, the results suggested scale was hindering performance, and treatment will be pursued in the second phase.
Vali Wells Under Review
At Vali-2, initial investigations confirmed likely scale formation but full remediation has been deferred to the next stage of the program.
Vali-3 underwent reperforation and swabbing, showing signs of gas but requiring further dewatering before stable output can be re-established.
The company said these outcomes were encouraging and offered clear opportunities for production improvement once the second phase begins, adding that the positive uplift had so far provided confidence in the broader program’s potential.
Importantly, capital expenditure has remained on budget, with the company holding a cash balance of A$1.9 million at 1 September, compared with A$2.3m at 30 June.
Phase 2 Program Imminent
The program’s second phase of will begin later this month and focus on further work at Vali-1, Vali-2 and Vali-3.
Planned activities include chemical treatments to address problems with the Toolachee Formation, and alternative methods for safely dewatering Vali-3 to reinstate gas production.
The JV is also evaluating long-term solutions for scale management that can be built into future field development plans.
Vintage has acknowledged the efforts of contractors working in high-demand conditions across the flood-affected basin, with all work carried out safely and efficiently, and overall program costs remain within budget.
The company is looking forward to resuming operations at Vali and delivering sustained production gains from the Toolachee Formation as soon as practicable.