In the three months since assuming operatorship of the Moranbah Project, QPM Energy (QPME) has focused on maintaining safe and stable operations while implementing a series of production optimisation and improvement initiatives.
The energy company has attributed the successful transition of operations to the establishment of an organised management and operating team, as well as the implementation of correct gas field operating practices.
These have ensured zero lost time injuries and have improved field performance too.
QPME has also increased its production from 22.9 TJ per day to approximately 27TJ per day.
The construction of new tie-in points for directly connecting pre-mining gas drainage wells at the Grosvenor and Moranbah North mines is also predicted to boost QPME’s operational efficiency at the site.
Other achievements announced by the company also include:
- the growing electricity generation at the company’s Townsville Power Station
- an upcoming 8-well drilling program — which is fully funded by the Dyno Nobel Deferred Funding Facility and is scheduled to commence around April 2024
- the expansion of market reach — QPME is actively developing further third-party gas sale opportunities with industrial users in the Townsville region, aiming to broaden its market footprint and customer base.
QPME CEO David Wrench said: “The rapid turnaround in production we have seen has validated our operating strategy and has identified further upside as we build a profitable energy business.”
The Moranbah Project is an established coal mine waste gas project with production, 240 PJ of 2P reserves, and existing infrastructure capable of processing up to 30 PJ per annum.
QPM completed the purchase of the Moranbah gas development project from Arrow Energy Pty. Ltd. for $30 million in August this year.
