Vintage Energy (ASX: VEN) and its partners in the ATP 2021 joint venture (JV) have been buoyed by the observation of gas shows in the new Odin-2 appraisal well in the Cooper Basin.
Drilled to test an opportunity to significantly increase gas production from the Odin field, gas shows were recorded in a number of sections of the well on its way to a planned total depth of 3,172 metres.
Located 1.1km north-east of the gas-producing Odin-1 discovery well, the appraisal well successfully intersected the targeted Toolachee, Epsilon and Patchawarra reservoirs.
Gas shows were recorded during the drilling of the Toolachee, Daralingie, Epsilon and Patchawarra formations and the Tirrawarra Sandstone.
Wireline testing planned
The JV – comprised of Vintage, which is the project’s operator and 50% interest-holder, with Metgasco (ASX: MEL) and Bridgeport each owning 25% – will now test the potential of gas shows through analysis of data acquired through planned wireline logging operations.
Odin-2 was designed to follow up exploration studies identifying the location as a prime target to the reserves already supplying gas under a long-term contract.
If the well is successful, it will be fast-tracked for commercialisation at the earliest opportunity through a flowline connection to the Vali-Beckler pipeline.
Odin-3 well planned
Vintage recently announced it could potentially go alone with the drilling of an Odin-3 appraisal well.
The company’s JV partners declined to support drilling at Odin-3 at that time after a formal vote.
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