Cooper Energy has delivered a record half year for production and sales volumes, increasing its output by 76 per cent and sales by 86 per cent.
Outlined in a quarterly report, Cooper managing director David Maxwell said the company’s performance during the quarter demonstrated its maturing gas business.
Despite half year production increasing to 1.16 million barrels of oil equivalent (MMboe), quarterly production was down by 28 per cent to 0.49 MMboe.
This was a result of lower Sole gas production during the reconfiguration of the Orbost gas processing plant.
“While works continue to establish a stable gas production rate at the Orbost gas processing plant, we are seeing positive signs from the reconfiguration of the plant’s absorbers and remain confident that the plant’s capacity rate of 68 terajoules a day (TJ/d) can be achieved over time,” Maxwell said.
At Casino Henry in the Otway Basin, gas production was recorded at 1.3 petajoules (PJ) and was in line with the prior quarter.
The company highlighted that this was a result of work being completed in December to remediate scaling of Henry-2 well infrastructure, resulting in a production uplift of 1.5 TJ/d. In addition, the Athena gas plant project is sitting at 40 per cent complete, with works progressing to schedule.
The project involves commissioning of the Athena gas plant to press gas and liquids from the Casino Henry fields and future developments.
Cooper Energy is confident that Casino Henry gas will be processed in the plant in the first quarter of next year.
The Cooper Basin development, Callawonga-13, is scheduled for drilling in the third quarter of this financial year. The horizontal oil development well is set to be drilled to 1500m in the McKinlay Formation of the Callawonga field.
Cooper advised that the objective is to increase oil production and access undeveloped and new reserves.