Vintage's Vali-3 well delivers "extensive" net gas pay
Sydney-listed Vintage Energy on August 10 said Vali-3 well in Cooper basin has delivered “extensive” net gas pay.
The Vali-3 well reached total depth at 3,186 m on June 28, achieving its main objective of intersecting the Patchawarra Formation at a depth consistent with the pre-drill interpretation of the Vali structure. During drilling, gas shows were observed in the lower Nappamerri Group, Toolachee, Epsilon and Patchawarra formations, and the Tirrawarra sandstone.
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Material increases in reservoir sand content, and hence net pay, were encountered through the Patchawarra formation in both Vali-2 and Vali-3 when compared with Vali-1 ST1, Vintage said.
Oil shows were observed through the late Cretaceous, Jurassic and Triassic sediments, as well as the uppermost Permian aged Toolachee formation. Similar shows were encountered in both the Vali-1 ST1 and Vali-2 wells and these shows are supportive of oil migration and hence potential oil accumulations within the ATP 2021 permit, where more than 12 oil leads have been identified, Vintage said.
"The recent three well drilling campaign, which came after the first exploration success at Vali-1 ST1, included the two Vali appraisal wells and the discovery of gas in the Odin prospect,” Neil Gibbins, Vintage managing director, said. “These wells have delivered the necessary gas fields and volumes for us to move forward with commercialising the Southern Flank (Vali-Odin) province. What is pleasantly surprising is the increase in reservoir quality sand, and resultant net pay, in the Patchawarra Formation for both Vali-2 and Vali-3 when compared with Vali-1 ST1.”
Vintage said that discussions are well advanced with a number of interested parties regarding pre-sales of gas and potential flow-line infrastructure funding, to connect the Vali field to the Moomba gas gathering network.
“Such agreements will be carefully structured to ensure the Vali project is progressed in the most capital efficient manner and will be announced to the market once terms are finalised between the relevant parties and the joint venture,” the company said.
Vintage is the operator at ATP 2021 with 50% interest while Metgasco and Bridgeport own 25% each.
The joint venture now has three cased wells in the Vali field available for future production. "Once the joint venture has reviewed the data from the successful Vali wells it will be sent to ERC Equipoise Pte Ltd, which will update the reserves certification for the Vali field as a whole. These results are expected prior to the end of September 2021," Vintage said.