Vintage Energy’s Odin-1 well flows steady gas after weather delay
Vintage Energy (ASX: VEN) is celebrating the return of production at the Odin field in central Australia following a recent rain delay.
Over a 44-hour period, the Odin-1 well flowed gas at a stable raw gas flow rate averaging 1.4 million standard cubic feet per day.
The well had been shut in since 2 July due to a wireless communication issue closing the surface safety valve, with the well largely offline during that period.
Odin-2 completion
Odin-1 was expected to come back online last month but heavy rains in the area impacted road surfaces, meaning the company was unable to move vital equipment to site.
Vintage and its joint venture (JV) partners Metgasco and Bridgeport will now turn their attention to completing the recently drilled Odin-2 gas well and production optimisation work planned for the Odin-1 and Vali-2 wells.
At Odin-2, work will focus on achieving production from sandstones in the Epsilon, Toolachee and Patchawarra formations.
Activities to be undertaken on the optimisation program for Odin-1 include production logging and perforation of the Patchawarra formation for gas production.
Vali optimisation
Vali field optimisation work will include opening up the Vali-2 well following the actuation of the well’s sliding sleeve to enable gas production from the shallower Toolachee Formation.
Vali-3 remains shut in as the JV assesses the performance and potential remediation options to improve the performance of the producing zone in the Toolachee Formation.
Future options for the well include production from other gas-bearing zones such as the Patchawarra Formation.
Period of success
Floated in 2018, Vintage discovered the two gas fields in the southern flank of the Nappamerri Trough of the Cooper/Eromanga Basin, where it has a 100% drilling success rate across five wells.
The company is supplying gas to east coast Australia under long-term supply contracts with key utilities, with approximately 40 petajoules of uncontracted 2P gas reserves in the Cooper Basin connected to east coast markets and is exempt from the $12 per gigajoule price cap.
Oil opportunities
While gas has been Vintage’s major focus to date, oil opportunities have been identified in the Vali area for potential future follow-up.
In a recent presentation, Vintage revealed a number of drill-ready targets, with good oil shows sighted at Vali and over 20 closures mapped in the ATP 2021 permit.