The Phase 2 program is the company’s first major investment in the WSGP, and involves drilling 30 appraisal wells on the Eos and Glenora blocks, 30 km from Roma.
“We know that cost management is a key driver of value on the WSGP, and the Phase 2 work program has provided us the opportunity to test and embed our processes ahead of full field development,”? said Senex Managing Director and CEO Ian Davies.
“We are on track to achieve our cost target of $1.2 million per installed well on this work program, with Senex achieving excellent performance in partnership with its preferred suppliers.”?
Of the 30 wells in the Phase 2 program, 24 have been drilled, with the remainder to be completed in the coming months.
Senex has brought the first pod of Phase 2 wells online, with all 30 wells to be producing by the end of 2017.
Senex expects production of Phase 2 wells to conform to the typical profile of CSG wells, with dewatering to precede a steady increase in gas production rates.
Senex is also working to progress a raw gas sales agreement with GLNG for delivery of Phase 2 gas into the existing Roma field infrastructure.
The Western Surat Gas Project is located in ATP 795 and ATP 889 in Queensland’s Surat Basin, and is fully-owned and operated by Senex.