June quarter proves significant for QGC

During the quarter ending 30 June Queensland Gas Company (QGC) reached a significant milestone as the first explorer to book proved coal bed methane (CBM) reserves at two locations in the Surat Basin: Berwyndale South, 378 billion cubic feet (bcf) of natural gas/389 Petajoules, and Argyle 163bcf/170 Petajoules.
June quarter proves significant for QGC June quarter proves significant for QGC June quarter proves significant for QGC June quarter proves significant for QGC June quarter proves significant for QGC

Since then QGC has been awarded a Petroleum Lease PL 201 over the Berwyndale South project area, which has shown gas flow rates increasing from 715,000 cubic feet per day to 1.09 million cubic feet per day via the additional drilling of two appraisal wells in the area. Average gas flow in the acreage is at the 1.2 million cubic feet per day mark since the end of the first quarter.

In a statement QGC said, “A total of 60PJ of gas from the Berwyndale South field is committed to CS Energy under contracts over a 15 year period from 2005, and QGC is currently in discussion with a number of potential customers for supply from the gas reserves based on Argyle.”

“QGC will now focus on commencing development of the gas field at Berwyndale South and on securing a long term gas supply contract for the Argyle field (in ATP 620P),” added the firm.

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