Final certification is slated for some time next month but QGC are confident the final tally will match the preliminary findings.
According to QGC MD, Richard Cottee, “Today’s certification was a defining moment in QGC’s progression towards development of its gas resources [and] the certification of 60 to 72 PJ of 2P reserves from the Argyle wells is only the first step in unlocking the vast quantities of coal seam gas in the area.”
“The test results to date have already attracted interest from several potential customers, and today’s certification demonstrates that the Argyle gas field can play an important role in serving Queensland’s energy needs,” added Cottee.
The preliminary results indicate proven reserves should be between 8 PJ to10 PJ in the upper Juandah coals immediately surrounding the three Argyle wells.
Phase two, which is being undertaken to test the deeper Juandah seams, is set to commence soon. It will also encompass the Taroom coal seam and will see the drilling of additional core well.
Argyle is located in Block ATP620P in the Surat Basin, Queensland. All three test wells in the block have been undergoing flow tests since November last year. QGC holds a 59.375% interest in ATP620P, with Pangaea Oil & Gas Pty Ltd holding the balance.
