Oil and Gas News

Vali JV positioned well for future production

Vali-1 Vintage Energy

Vintage Energy has recorded 100 per cent drilling success will all four Cooper-Eromanga Basin wells cased for future production.

Outlined in the company’s quarterly report, Vali-2 was drilled to total depth of 3240 metres, with no safety incidents, and cased for production.

Wireline logging confirmed a new gas pool in the Toolachee Formation and confirmed gas in the Patchawarra Formation and Tirrawarra Sandstone, with a gas sample recovered via MDT from the Toolachee Formation.

Vali-3 reached total depth at 3186m at the end of June, with the objective the well achieved following the intersection of the Patchawarra Formation in line with the pre-drill interpretation of the Vali structure.

The joint venture now has three cased wells in the Vali Field, with it now progressing plans for production from the successful Cooper Basin wells, following the ACCC granting them final approval for joint marketing of gas from the Vali field during the quarter.

In addition, during the quarter Vintage advised that Firetail Energy Services, a potential farm-in partner in EP126 in the Northern Territory, went into administration.

As a result, the farm-in agreement with Vintage to earn a 10 per cent equity in EP126 has been terminated.

In the Perth Basin, Western Australia, the Cervantes prospect sits within the L14 licence granted over the Jingemia oilfield and surround.

During the quarter the Environmental Protection Authority indicated support for the drilling of Cervantes, with a formal approval set to be given in the coming months to spud in 2022.

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