Vintage Energy prepares for Odin and Vali workovers as Cooper Basin weather conditions improve
Vintage Energy (ASX: VEN) has confirmed it is set to commence workover activities at its two producing gas fields, with road conditions in the Cooper Basin improving after recent heavy rains in central Australia.
The operator and 50%-interest holder in the PRL 211 and ATP 2021 joint ventures that cover the Odin and Vali gas fields, said that it has received revised timelines for field work at the two gas fields, which had been delayed by the loss of road access due to rainfall in July.
Vintage said recent surveys indicate heavy vehicle road access to the Odin and Vali well sites is expected to be restored by no later than the end of the current month and the company is now engaging with contractors for the mobilisation of heavy equipment to the site in the opening days of September.
Three separate projects
The proposed workover programs at Odin and Vali will involve three separate projects aimed at increasing gas production and supply to the east coast.
They include the completion and connection of the successful new Odin-2 appraisal well, production optimisation at Odin-1 and activation of the sliding sleeve at Vali-2 to enable production from the Toolachee formation.
The work program is expected to be completed by mid-October, with the commencement of production from Odin-2 being the final element.
Odin-2 production
Odin-2 is to be completed to produce from sandstones in the Epsilon, Toolachee and Patchawarra formations.
The well is located 1.1km north-east of the gas-producing Odin-1 discovery well.
Vintage also reported that the Odin-1 and Vali-1 wells have continued to perform steadily, averaging production rates of 1.4 and 1.1 million standard cubic feet per day respectively since 1 August 2024.
Galilee Energy merger
Vintage revealed earlier this month that it was preparing to take over Queensland coal seam gas specialist Galilee Energy (ASX: GLL).
The two companies entered into a binding heads of agreement under which Vintage will acquire all of the fully paid ordinary shares in Galilee.
The merged entity will feature Vintage’s growing South Australian and Queensland conventional gas projects alongside Galilee’s Queensland coal seam gas developments and its substantial contingent resource of more than 2,500 petajoules.