Comet Ridge’s Mahalo North 1 well continues to increase gas production, currently producing over 530 million cubic feet of gas per day (Mcfd).
Gas production has increased by 71 per cent over the two weeks since Comet Ridge last reported gas production passing 310 Mcfd on 21 June.
Notably, the Mahalo North 1 well has also previously reported a gas production rate of 85 Mcfd, occurring while the production test was paused in mid-May to install a larger pump.
The continued success and growth in production rates at the well show great promise and opportunities for Comet Ridge. Managing director of Comet Ridge, Tor McCaul, reflected on these developments and expressed excitement over the success of gas production at the Mahalo North 1 well.
“Over the last several days we have seen the water rate slowly declining, from approximately 1,560 bwpd down to its current level of approximately 1440 bwpd in parallel with the increasing gas rate and decreasing bottomhole pressure.”
Comet Ridge is an Australian energy company focused on the development of natural gas resources for the strained each coast Australian market.
The Mahalo North project, located in the Southern Bowen Basin, was acquired by Comet Ridge in October 2019. The natural gas acreage forms part of the company’s flagship of Mahalo Gas Hub projects – a set of low-cost natural gas blocks that play an important role in supplying the east coast Australian market.
Comet Ridge has tenement interests and a suite of prospective projects across QLD.
The company’s explorations assets offer further upside amid increasing domestic and international demand for natural gas as a source for cleaner energy and as a key manufacturing feedstock that fuels thousands companies and utilities daily.
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