Strata-X Energy Ltd., Brisbane, and Real Energy Corp. Ltd., Sydney, signed an agreement to merge interests into a new gas operator called Pure Energy Corp. Ltd.
The move will bring together the companies’ holdings in Cooper and Surat basins of Queensland, including the 50-50 joint venture of the Venus project in Surat.
Pure Energy plans to use innovative well completion and non-fracturing reservoir enhancement methods to prove up commercial gas flows during the next 12 months, the companies said.
The key development is the Venus coal seam gas project in permit ATP 2051 on the Walloon CSG fairway south of Senex’s Atlas project and Central Petroleum’s Range project.
Work on the proposed Connor-1 well re-entry is expected to begin in August. The program is designed to prove sufficient water flows to enable dewatering and early gas flows from the Walloon coals.
If the re-entry flow test goes to plan, the JV expects to drill two wells offsetting Connor-1 and fully equip all three wells as a production pilot program.
The coals are immediately adjacent to gas infrastructure and are prospective for CSG over the entire 152-sq km permit.
A recent independent review of the data in and around the permit certified a prospective gas resource of 694 petajoules.
