Metgasco’s Odin-1 well proves ability to produce gas
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Flow testing has confirmed the ability of Metgasco’s Odin-1 well in the Cooper Basin, South Australia, to produce at excellent conventional gas flowrates.
The well, which is now shut-in for pressure build-up, produced gas at a stable rate of 6.5 million standard cubic feet per day (MMscf/d) at 1823 psi flowing wellhead pressure from the Toolachee and Epsilon formations.
Metgasco (ASX:MEL) also noted that,whilst optimising choke settings, the well’s ability to flow gas at a rate of 10.3MMscf/d on a 36/64” choke at a flowing wellhead pressure of 1666psi ,demonstrating the potential for improved gas productivity from the Toolachee and Epsilon formations.
Gas samples have been collected and will be analysed though in-field measurements have estimated that the raw gas is made up of 78% hydrocarbon and 22% inerts, which is in line with expectations.
Odin-1 will be shut-in for a 10-day period before the production logging tool is run to gain information on zonal contributions.
This will help operator the joint venturedetermine the reservoir and production characteristics of the perforated Toolachee and Epsilon formations, which will help guide the design of future appraisal and development programs at the Odin field.
Odin-1 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, Epsilon, Patchawarra and Tirrawarra formations.
Vintage owns 42.5% of the joint venture’s Odin Field in the Cooper Basin on which Odin-1 is located, with Metgasco holding a 21.25% share.
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.