• First production and cash flow expected in Q3 FY21
• Vali Field life estimated at around 20 years
• Potential for nine wells, to produce raw gas of ~5 Bcf each
• Preferred connection point at Santos operated Beckler Field
• Reserve assessment underway
• Independently certified gross 2C Contingent Resource of 37.7 Bcf (18.8 Bcf Net)

The ATP 2021 joint venture, Vintage Energy (50% and operator), Metgasco (25%) and Bridgeport (Cooper Basin) Pty Ltd (25%) advises that a development concept for the Vali Field has been completed and estimates a field life of around 20 years. The data used for the development concept was generated from the highly successful flow test of Vali-1 ST1, which delivered a stabilised gas rate over a twoday period of 4.3 MMscfd through a 36/64“choke at 942 psi (flowing well-head pressure). The completion of Vali-1 ST1 is due to take place in October 2020.

Map source: Vintage Energy

The development concept estimates there will be in the order of nine fracture stimulated vertical wells that will target production from reservoirs in the Patchawarra Formation and the Tirrawarra Sandstone. The first two wells in the program are planned to be drilled in first half of 2021, subject to regulatory and joint venture approvals and rig availability, and will also appraise upside potential in sands within the Toolachee Formation and Nappamerri Group. All wells would be connected to a central manifold, with gas planned for transportation via multiple composite pipelines to the Santos operated Beckler Field and then into the Moomba gathering system.

Neil Gibbins, Vintage Managing Director, said,
“The Vali Field development concept work has highlighted the potential of the Vali Field to produce gas over the longer term. With a field life estimated at around 20 years and multiple leads and prospects within proximity of Vali, we are confident in delivering a multi-field
production project over time. We will be initially targeting approximately 4 PJ per annum of gross gas production, and I am of the belief this could be increased substantially with appraisal and exploration success in the area.”

Over the coming months, a joint venture approved detailed initial development plan will be completed and submitted to the regulator. Once a production licence is issued and the Vali Field pipeline is tied-in, further wells will be drilled as a means of increasing production. These wells will be subject to sales gas transactions that support the level of gas production.

Cooper/Eromanga Basins

The Cooper/Eromanga Basins are the premier onshore oil and gas producing basins in Australia. The Cooper Basin is a Permo-Carboniferous to Triassic basin with sediment up to 2,500 metres thick which consists of interbedded sandstones, shales and coals. The overlying Eromanga Basin is Early Jurassic to Late Cretaceous in age and has sediment up to 3,000 metres thick which consist of sandstones, siltstones and shales. Over 2,500 exploration and development wells have been drilled in the Cooper/Eromanga Basins to date with estimated cumulative production of over 6.2 Tcf of gas, 315 MMbbl of oil and 92 MMboe of condensate.

The Cooper/Eromanga Basins are connected to the Adelaide and east coast markets via gas pipelines, with oil and liquids pipelines connecting the region to Port Bonython in South Australia and Moonie/Brisbane in Queensland.

KeyFacts Energy: Vintage Australia country profile   l   Bridgeport Australia country profile   l   Metgasco Australia country profile