Oil and Gas News

Odin Field results a boost for Metgasco

Cooper basin

Metgasco, through the result of the independent certification of contingent resources, has certified 36.4 billion cubic feet (Bcf) of gross 2C contingent resources in the Odin Field in the Cooper Basin. 

ERC Equipoise independently certified the 2C contingent resources in the Toolachee, Epsilon, Patchawarra and Tirrawarra formations of the Odin gas field located in both PRL 211 and ATP 2021 on the southern flank of the Nappamerri Trough in the Cooper Basin.

While all these formations contributed to the certified gas volumes, the majority of the resource is based in the Toolachee and Patchawarra formations.

Metgasco managing director Ken Aitken said the independent certification of a significant increase in the Odin gas field resources is a great outcome an confirms another sizeable discovery.

“Odin-1 has conventional gas flow potential in the Toolachee and Epsilon reservoirs which are under consideration to be tested to assist future appraisal planning and conversion of the contingent resources to reserves,” he said.

“The successes to date validates Metgasco’s string of peals thesis, with more exploration success anticipated within both licences in the future.”

Aitken further highlighted that results from the Odin-1 and the appraisal drilling of Vali-2 and Vali-3 provide confidence that both fields should produce gas into the high price east coast gas market in 2022.

In June Metgasco, on behalf of its joint venture partners, confirmed that the Odin-1 exploration well analysis of gas samples 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.

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