Natural gas explorer Eastern Gas Corp. Ltd. has commenced the next phase of its Queensland gas development strategy by executing a drilling contract for a material appraisal campaign in the Surat Basin.
The company has secured Silver City Rig #34 for a campaign of up to two wells within the Walloon Coal Seam Gas (CSG) fairway in the Surat Basin. The first appraisal well, Venus-2H, is scheduled to spud in June 2026, marking Eastern Gas’s first major field deployment since listing on the ASX earlier this year.
The Venus Project sits near existing gas transmission infrastructure and established east coast pipeline networks, holding an independently certified contingent gas resource of 130 petajoules.
The upcoming program is engineered to evaluate reservoir deliverability, gas content, and overall production performance. Technical data gathered from Venus-2H will be used to support future reserve conversions, commercialisation pathways, and full field development planning.
Rig mobilisation is slated to begin in mid-June. The contract also includes a flexible option for a second well, pending the technical evaluation and results of the initial Venus-2H probe.
Eastern Gas Managing Director David Spring said the drilling program represents a major milestone for the company and a timely addition to the tight domestic market.
“At a time when Australia is confronting growing concerns around domestic gas supply, energy reliability and long-term market security, projects capable of delivering new east coast gas supply are becoming increasingly strategically important,” Spring said.
“Venus-2H has been specifically designed to assess gas deliverability and reservoir performance within the Walloon Coal Seam Gas fairway and will provide critical technical data to support reserve conversion and future field development planning.
“With certified contingent resources, proximity to existing infrastructure and direct access to the east coast domestic gas market, we believe the Venus Project is well-positioned as a future domestic gas supply opportunity.”