Comet Ridge Managing Director Tor McCaul said the company’s 40 per cent net share of 2P reserves had increased by 473 per cent from 30 PJ to 172 PJ, while its net share of 3P reserves had risen 71 per cent to 374 PJ following completion of the 2017 work program.
“Importantly, Comet Ridge’s share of maiden 1P reserves of 18 PJ has been certified for Mahalo due to exceptional performance of the Mahalo and Mira horizontal pilot wells, enabling commercial thresholds to be met,”? said Mr McCaul.
“This reserves upgrade is exceptionally pleasing and comes of the back of great support and cooperation within the Mahalo Joint Venture from Santos and APLNG during the 2017 work program.
“As the Mahalo Project moves closer towards development decision, additional focus will be placed within the 2018 work program on building 1P and 2P reserves as further production data is collected and additional appraisal undertaken.”?
The Mahalo Project is located approximately 240 km west of Gladstone in the southern Bowen Basin.
It is close to infrastructure, with pipeline connections to the Gladstone domestic and LNG market a short distance to both the west and south of the two pilot schemes.
Equity participants in ATP 1191 Mahalo CSG are Comet Ridge (40 per cent and operator), APLNG (30 per cent) and Santos (30 per cent).