Mineral Resources (MinRes) has announced a maiden oil and gas resource at its Lockyer and Erregulla projects in WA.
The Lockyer Gas Project and Erregulla Oil Project are located onshore in the Perth Basin, and have been subject to extensive exploration since discovery by MinRes in 2021.
Gas
MinRes announced a 435 petajoule (PJ) contingent gas resource at Lockyer.
“The … resource indicates it is one of the largest onshore gas discoveries in WA, with significant exploration upside … that could total up to 1.4 trillion cubic feet of gas,” MinRes said.
“Planning for the development of the Lockyer Gas Project is well progressed and approvals have been submitted for a central processing facility with a production capacity of up to 250 terajoules per day.”
MinRes is now reviewing development, financing, and partnering opportunities for the project.
Oil
At the Erregulla Oil Project, MinRes announced a maiden resource of 31.6 million barrels of oil equivalent (MMboe).
According to MinRes, this makes Erregulla one of the largest onshore oil discoveries in WA since Barrow Island in 1964.
MinRes Managing Direction Chris Ellison commented on the maiden resource.
“Our Perth Basin conventional oil and gas discoveries are among the largest onshore finds in WA, with significant upside on these two exploration permits alone,” he said.
“With the commissioning of our new exploration rig, we are just getting started and the energy division is firming up targets on the largest acreage holding in the highly prospective Perth and Carnarvon basins.
“Developing the Perth Basin remains subject to sensible WA Government domestic gas policy, and MinRes will consider all development and partnership options to maximise value from our exploration success.”
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