Oz Myall Creek 2P Reserves Lifted 40%: Armour
Australian Armour Energy has announced a 40% increase in total proved and probable (2P) reserves at its Myall Creek field in Queensland, it said October 30.
The Myall Creek field, which is part of Armour’s 100%-owned Kincora gas project, have risen from 44.4 petajoules (1.19 million metres3) to 63.1 PJ. The update follows the completion of the Myall Creek 4A well and commencement of gas sales and a subsequent review and evaluation in accordance with the Society of Petroleum Engineers – Petroleum Resource Management System guidelines, it said.
The increase takes the Kincora project’s total 2P reserves net to Armour to 79.3 PJ, the company added.
Armour announced first gas sales from Myall Creek 4A October 8. It’s the company’s first well drilled, connected and brought into commercial operations since it acquired the Kincora project from Origin Energy.
It is also the first well under Armour’s Gas Acceleration Program agreement with the Australian Government, which provides partial funding – of up to A$6 million ($4.23mn) – of the company’s four well program which is to be completed by June 2019.