Carbon Energy Bumps Queensland UCG Reserves by 83%

Carbon Energy on Thursday announced an 83% increase in its’s proved and probable (2P) Underground Coal Gasification (UCG) gas reserves at its Bloodwood Creek site in Queensland.

The company’s 2P UCG gas reserve has increased from 743PJ to 1,362 PJ and ranks Carbon Energy as potentially one of the largest gas producers in Queensland, it said in a statement.

South East Queensland’s coal rich Surat Basin is approx. 110,000 km2 and reportedly has 28,422 PJ in identified 2P reserves1. Carbon Energy’s 1,362 PJ 2P UCG gas Reserve is from one of five identified coal seam areas in the Company’s Mineral Development Licence (MDL) 3742 which covers approx. 30 km2. This equates to more than 33 million GJ per km2 of recoverable energy. This further represents approx. 5% of available 2P Reserves in the Surat Basin from an area representing 0.03% of the total Surat Basin.

“The Company’s UCG gas asset is currently being prepared for commercialisation after 5 years of in-field trials. In-line with recommendations from the Independent Scientific Panel Report commissioned by the Queensland Government, the Company is currently developing a rehabilitation plan in conjunction with the Queensland Government for the second trial panel at the Bloodwood Creek site. This work is a vital step in the commercialisation process and is anticipated to provide the Government with confidence that Carbon Energy can operate its technology in an environmentally safe manner as has already been demonstrated through the trials,” the company said.

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