Joint venture partners Metgasco and Vintage Energy have reported that the Vali-3 appraisal well, Queensland, is currently at 2377 metres in the top of the Toolachee Formation.
While drilling, gas shows were observed in the mid-Nappamerri Formation, with oil shows observed in the Murta, McKinlay, Namur, Westbourne, Birkhead and Hutton Formations.
Metgasco outlined that the primary objective of Vali-3 is to appraise the extent of the deeper Patchawarra Formation gas accumulation discovered in Vali-1 ST1 and confirmed in Vali-2.
Total depth of Vali-3 is expected to be reached over the coming weeks.
The joint venture further advised that as the same as the earlier wells in the Vali Field, no safety incidents have occurred during the drilling of Vali-3 to date.
In addition, earlier this month Metgasco reported that the Vali-2 well delivered greater net gas pay than Vali-1 ST1, exceeding pre-drill expectations.
Reporting on behlaf of the ATP2021 joint venture (Vintage Energy, Metgasco, Bridgeport), the Vali-2 well was drilled to a total depth of 3240 metres and cased for production at the beginning of May, with wireline logging confirming the presence of gas in both the Toolachee and Patchawarra formations, and the Tirrawarra Sandstones.
The company expects the discovery of gas in the Toolachee Formation will add to reserves estimates in the Vali field.
Chief executive officer Ken Aitken said the better than anticipated Vali-2 net pay results indicate reserve upside potential for the Vali Field, which will be independently assessed following the drilling of Vali-3.
“Metgasco looks forward to the imminent spud of Vali-3 appraisal well and a safe and successful conclusion to the 2021 Cooper-Eromanga Basin drilling program,” he said.