As a result of the Dundee reserve certification, Arrow's net proven plus probable reserves have increased 21% to 440PJ.
“This is a significant increase for Arrow," CEO Nick Davies said.
"The identification of another promising Surat Basin field is important in our attempt to satisfy the growing demand for gas reserves in Queensland."
The company, which following its merger with CH4 is now Australia’s largest CSM producer, said its new net gas reserve position was now: 84PJ of proven reserves, 440PJ of proven and probable reserves, and 2739PJ of proven, probable and possible reserves.
Arrow said the Dundee assessment, conducted by US-based consultants Malcewicz, Hueni and Associates (MHA), was one of several certification programs expected for completion in the next few weeks.
Contained in PLA 185, Dundee is immediately south of the town of Chinchilla, about 350km west of Brisbane and 40km northwest of the Kogan North field.
Dundee is one of a multi-field chain of Surat Basin projects stretching from Chinchilla to Millmerran under appraisal or development by Arrow and its partners. Other projects in the chain are Kogan North, Daandine, Tipton West, Meenawarra and Millmerran.
On Monday, Arrow announced a 12-month drilling program to certify an additional 700 PJ of reserves in the greater Moranbah area in the Bowen Basin, in a move to satisfy the increasing demand for gas reserves in the central and northern Queensland markets.
