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Vintage Energy targeting August start-up for gas sales from Odin-2 well

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By Colin Hay - 
Vintage Energy Metgasco ASX VEN MEL Odin 2 completion
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Vintage Energy (ASX: VEN) is aiming to start pumping gas from Odin-2 into Pelican Point Power’s plant in South Australia next month after receiving joint venture (JV) approval to proceed with the well’s completion.

A recent pay analysis from the Queensland Cooper Basin appraisal well has provided the ATP 2021 JV of Vintage, Metgasco (ASX: MEL) and Bridgeport with the confidence to complete Odin-2 as a multi-zone gas producer.

Completion operations will commence later this month with the JV having received the services and equipment required for the completion of the well.

Appraisal success

The Odin-2 appraisal well was cased and suspended as a future gas producer in early June after it encountered gas pay in several targeted sandstones on the eastern flank of the Odin field.

Odin-2 will now be completed to produce from sandstones in the Epsilon, Toolachee and Patchawarra formations, with the connection program expected to be completed in August.

Gas from the two producing Odin wells will be supplied to Pelican Point Power –a JV of ENGIE (which holds a 72% interest) and Mitsui (28%) – under a contract that runs until December 2026.

Odin-2 is located in the Queensland Cooper Basin permit ATP 2021, 1.1 kilometres north-east of the Odin-1 discovery well.

Optimisation plans

Vintage has also revealed that the JV is preparing to undertake production optimisation work at Odin-1.

The Patchawarra Formation, which has not been produced at Odin-1, will be perforated with the objective of increasing gas production.

Odin-1 is currently producing raw gas at a rate of 1.4 million standard cubic feet per day.

Vali

At the nearby Vali field operations to establish gas production from Vali-2 are to  to be conducted from mid-July.  The well’s sliding sleeve is to be actuated to  enable production from the shallower Toolachee Formation.

Vali-2, also located in permit ATP 2021, was previously configured to produce solely from the Patchawarra Formation but has been shut in since March 2024 after operations to establish significant gas flow were unsuccessful.

Vali-1 is currently producing raw gas at 1.3 MMscf/d under a separate sales contract with AGL Energy (ASX: AGL).