Vintage revises timelines for Queensland gas fields due to weather delays

Sydney-listed Vintage Energy has adjusted the timelines for field work at the Odin and Vali gas fields in Queensland due to road access issues caused by July rainfall, the company announced on August 20.

Recent surveys suggest that heavy vehicle access to the Odin and Vali well sites will likely be restored by the end of the month. Vintage is coordinating with contractors to mobilise heavy equipment to the sites in early September.

The revised work plan includes three key projects aimed at boosting gas production: completing and connecting the Odin-2 appraisal well, optimising production at Odin-1, and activating the sliding sleeve at Vali-2 to allow production from the Toolachee formation.

The work programme is expected to be completed by mid-October, with production from Odin-2 marking the final phase. Odin is the second new gas field brought online by Vintage and its joint venture partners, following the connection of the Vali gas field in February 2023. Gas from both fields is processed at the Moomba facility. Vintage operates the projects with a 50% stake, while Metgasco and Bridgeport each hold 25%.

In related news, Vintage recently announced a binding Heads of Agreement (HoA) to acquire fellow Australian gas company Galilee Energy. Under the agreement, Galilee shareholders will receive two fully paid ordinary shares in Vintage for every one Galilee share held on the scheme record date.