• Omega Oil & Gas has appointed former BG Group chief operating officer Martin Houston as its chair
  • Houston has plenty of experience in developing gas that can benefit the company
  • Company will soon fracture stimulate and test the Canyon-1H horizontal well

 

Special Report: Omega Oil & Gas has brought in the proverbial big guns with the appointment of former BG Group chief operating officer Martin Houston as its chairman.

Houston has over four decades of global experience in the oil and gas industry including 32 years at BG where he was instrumental in developing the Queensland Curtis LNG project that included the gas major’s exploration program in the Taroom Trough.

He is also recognised as the architect of BG’s world-class LNG business, earning him the first CWC LNG Executive of the Year award in 2011.

Following BG’s acquisition by Anglo-Dutch supermajor Shell, Houston co-founded LNG developer Tellurian in 2016 and served as its executive chairman prior to overseeing its sale to Woodside in October 2024.

His appointment highlights the potential of Omega Oil & Gas (ASX:OMA) and its exploration acreage in the Taroom Trough.

“The appointment of someone with Martin’s exceptional pedigree in oil and gas reflects the strong position Omega holds today” outgoing chair Stephen Harrison said..

“Advancing our Taroom Trough strategy through to the critical milestone of testing Canyon-1H has been the highlight of my tenure. I am confident that Martin’s extensive experience and leadership will be instrumental as Omega continues its growth trajectory.”

Houston said he was delighted to join OMA at such a pivotal moment in its development.

“The upcoming multistage hydraulic fracture stimulation and flow testing of the Canyon-1H well represent a transformative milestone, not only for Omega but also for the Taroom Trough as a potentially significant, future gas producing region in Australia,” he added.

“This project holds the potential to unlock significant gas reserves near existing east coast gas infrastructure, contributing significantly to Australia’s long term energy security.”

 

Canyon-1H testing

OMA will soon carry out the fracture stimulation and flow testing of the Canyon-1H horizontal well.

The company already has an early sign that this will be successful after its diagnostic fracture injection test confirmed high overpressure of 0.79 psi/ft and favourable reservoir properties within the target Canyon sandstone reservoir.

The test indicated the well would likely flow efficiently, which will in turn unlock the gross best estimate contingent resource of 1.73 trillion cubic feet of gas present within the company’s acreage.

This success will also further de-risk the Taroom Trough, which has the potential to host multi-trillion cubic feet of gas.

 

 

 

This article was developed in collaboration with Omega Oil & Gas, 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.

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