Oil and Gas News

Odin-1 boosts JV confidence with gas confirmation

Strike Energy

Metgasco, on behalf of its joint venture partners, has confirmed that the Odin-1 exploration well analysis of gas samples has confirmed gas compositions in the Tollachee and Epsilon formations at the South Australian project.

The  ATP2021 joint venture (Vintage Energy, Metgasco, Bridgeport) reached total depth at 3140 metres at Odin-1 well at the end of May, with extensive gas shows encountered in sandstones through the primary target Toolachee and Patchawarra formations, as well as a basal sand in a secondary target in the Epsilon Formation.

It is estimated that 172.5 metres of net gas pay exists within various sections of the well. The analysis of the gas sample recovered from the Toolachee Formation highlights the richer hydrocarbon content of this formation when compared with the Epsilon and Patchawarra formations.

In addition, the Vali-3 well is currently at 2774 metres in the Epsilon Formation and expected to reach total depth this weekend.

Metgasco highlighted that while the gas shows observed previously in the mid-Nappamerri Formation, it was pleasing to also observe gas shows and minor oil shows in the Toolachee Formation. 

The primary objective of Vali-3 is the appraisal of the deeper Patchawarra Formation gas accumulation discovered in the Vali-1 ST1 well and confirmed in the Vali-2 well.

Chief executive officer Ken Aitken said Metgasco was encouraged by the results to date on Vali-3 and looked forward to safe and successfully finishing the 2021 drilling program.

“The lab confirmed gas sample results and better than anticipated net pay results confirm our belief that Odin-1 is an important Cooper Basin gas discovered which will add to the emerging reserve base across PRL211 and ATP2021,” he said.