The company only resumed exploration work in the tenement last month after settling a long-standing dispute with joint venture partner Pangaea Oil and Gas (Pangaea). As part of the settlement, QGC increased its interest in ATP620P to 59.375%.
Production testing began on the Argyle #1 well earlier this month with encouraging results, gas flows have been consistently above 128,000cfd, with water flowing at an average rate of 350 barrels a day, according to QGC managing director Richard Cottee.
"We are exceptionally pleased with the results from the Argyle #1 well. Gas flows have been remarkably stable without any assistance from adjacent wells," he said.
Cottee added that production testing was set to begin on the Argyle #2, #3 and #4 wells within a couple of weeks.
"QGC will decide whether to undertake a pilot program in the Argyle area when the results of production testing on these four Argyle wells are available."
