Vintage Energy is set to commence well completion at Vali-1 ST1 in the Cooper-Eromanga Basin in Queensland, with the Wild Desert rig being mobilised at the site.
As operator of the ATP 2021 joint venture (Vintage 50 per cent, Metgasco 25 per cent, Bridgeport 25 per cent), the company advised that the mobilisation of the rig will commence on October 17, with all necessary equipment having already arrived in Australia.
Depending on weather conditions, it is anticipated that completion of the well will take around one week.
In addition, tenders have been received and reviewed for the front end engineering design (FEED), detailed engineering, procurement, construction and commissioning works for connecting Vali-1 ST1 to the Moomba gathering system.
The JV has agreed to move forward with the FEED part of the scope and it is expected that this work will be awarded to the successful bidder within days.
The scope of the tender was to connect Vali-1 ST1 to the Beckler field which connects through the Dullingari facilities and Moomba.
In order to maximise value from the Vali gas field, Vintage will increase production and resultant cash flow through further wells.
As a result, the company has commenced scouting for suitable rigs to drill the wells, with the development concept for the Vali gas field having up to nine fracture stimulated vertical wells being targeted.
The first two wells of the program are under consideration for drilling in the first half of 2021, subject to approvals and rig availability.
Vintage managing director Neil Gibbins said the company is moving forward with plans to tie-in the Vali field which is estimated to have a field life of 20 years.
“Once the well is completed, a gas contract and the Vali connection work will be the next steps on our path to first production and cash flow. This is a very exciting time for Vintage as we look to deliver on our prospectus promises in an expedited timeframe,” Gibbins said.
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