Launches New Meridian Production Drilling Program
Sydney, July 30, 2012 AEST (ABN Newswire) - As Operator of the Meridian SeamGas CSG gas fields, WestSide Corporation Ltd (
ASX:WCL) is pleased to advise that drilling has commenced on the first of a series of new wells to increase production toward an initial target of 25 Terajoules a day.
WestSide CEO Dr Julie Beeby said the new drilling program comprised three new dual-lateral well sets and one up-dip blind lateral well - building on the success of the previous campaign.
"The results achieved to date from wells already drilled have given the joint venture confidence to proceed with this next phase as we look to lift production to satisfy existing sales contracts," Dr Beeby said.
Of the seven dual-lateral wells drilled previously, two have achieved production rates exceeding 1 million standard cubic feet a day (scf/d) and another three have achieved pre-peak flow rates of more than 675,000 scf/d.
Two rigs have been deployed to drill the new wells including WestSide's Schramm TXD rig, which will drill the lateral in-seam wells and another provided by EastCore Drilling Services to drill some of the vertical sections.
The Meridian SeamGas joint venture achieved average daily gas sales during June of 13.5 TJ/d with new wells now generating approximately 35 per cent of gross daily production.
WestSide, which has a 51 per cent operating interest in Meridian SeamGas, is Australia's leading ASX-listed junior Coal Seam Gas company in terms of production.
Contact
WestSide Corporation Limited
T: +61-7-3020-0900
F: +61-7-3020-0999
WWW: www.westsidecorporation.com
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