Metgasco, partners to test Odin-1 gas well

Metgasco (ASX:MEL) will soon have a clear idea of how well the Odin field will perform with the start of testing at the Odin-1 well in the Cooper Basin.

The testing by operator Vintage Energy (ASX:VEN) will assess gas flow rates from the conventional Toolachee and Epsilon formations, obtain gas and liquid samples for compositional analysis, and determine the contribution from individual sands.

Test results will also be used to assist in the next steps towards the field commercialisation process and enable conversion of the contingent gas resource to reserves.

Detailed engineering has also started for the Vali gas field pipeline.

Drill success

The Odin-1 well had intersected 172.5m of net gas pay and was assessed to host a best estimate contingent resource of 36.4 billion cubic feet of gas in the Toolachee, Patchawarra and Tirrawarra formations.

The flow testing program will determine which formation, or a combination of formations, should be targeted for initial production at the Odin field and whether the shallower formations can flow without hydraulic fracture stimulation.

Positive test results will assist next steps in the field commercialisation process and enable conversion of gas contingent resources to reserves.

Metgasco adds that not carrying out fracture stimulation of the unconventional Patchawarra Formation will defer significant capital expenditure until later in the mine’s life.

This article was developed in collaboration with Metgasco, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.