Elixir Energy to spud Daydream-2 appraisal well next week
Proactive Investors
Published Nov 02, 2023 09:06
Updated Nov 02, 2023 09:30
Elixir Energy to spud Daydream-2 appraisal well next week
Elixir Energy Ltd (ASX:EXR) is set to spud the Daydream-2 appraisal well next week, with Shell (LON:RDSa) currently drilling in a neighbouring tenement.
Drilling contractor SLB (previously known as Schlumberger (NYSE:SLB)) advised EXR that the contracted rig SLR 185 has been released by its current operator.
The drilling unit and camp are now mobilising to the Daydream-2 well site, which is located in EXR’s 100% owned Grandis Gas Project (ATP 2044) in Queensland’s Taroom Trough.
The Taroom Trough is part of the larger QLD Bowen Basin and EXR’s acreage is close to the Wallumbilla Hub natural gas terminal (35km), a storage and distribution hub for natural gas in North Queensland.
Notably, ten years ago Shell drilled the Daydream-1 well, just over the border of EXR’s licence area.
That well flowed at an instantaneous rate of 3.5 MMcfpd from an interval covering one-tenth of the gross prospective reservoir section.
Shell is currently drilling in a tenement to the immediate west of EXR’s ATP 2044 (https://geoscience.data.qld.gov.au/data/borehole/bh082431).
Daydream 2 to spud next week
The Daydream-2 appraisal well will spud early next week following acceptance testing.
“With the formal release of SLR 185 to Elixir the spud of Daydream-2 is now only a few days away,” Elixir’s managing director, Neil Young, said.
“Two large rigs will then be drilling contemporaneously to further open up the Taroom Trough — a real sign of its potential importance for domestic and international markets.”
Read more on Proactive Investors AU
Disclaimer
Get The App
Written By: Proactive Investors
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.