AUSTRALIA — Vintage Energy Ltd (ASX: VEN) has successfully brought its Odin-2 gas well online, marking a significant milestone in the company’s gas production efforts.
The well, located in the PRL 211 and ATP 2021 Joint Ventures, commenced operations on Sunday, October 13, 2024.
The Odin-2 well was initially activated with reduced choke settings, producing raw gas at rates between 3.0 and 3.5 MMscf/d (million standard cubic feet per day) with an average flowing wellhead pressure of 790 psi.
After a brief offline period for pressure monitoring, commissioning resumed on October 14.
As of the morning of October 15, the well had maintained steady production for 20 hours, flowing at an average rate of 3.0 MMscf/d with an average flowing wellhead pressure of 430 psi through a 68/64″ choke.
Commissioning activities are anticipated to conclude this week, with Odin-1 scheduled to resume operations upon completion.
The combination of both wells is expected to significantly boost gas production from the Odin field.
Neil Gibbins, Managing Director of Vintage Energy, expressed satisfaction with the results, stating: “Results from Odin-2 are very pleasing and current rates represent a substantial step-up in our gas production.”
He further added: “The combination of the two wells, incorporating the uplift from our production optimisation activities in September, is expected to result in initial raw gas production from the field being four or more times the rates recorded in August just prior to these projects.”
Gas produced from the Odin field is being supplied to Pelican Point Power Limited under a long-term contract.
Gibbins also highlighted the exemplary safety performance of the team, noting that the project was delivered without any injuries or environmental incidents.
Vintage Energy holds a 50 per cent interest in the PRL 211 and ATP 2021 Joint Ventures and serves as the operator.
The remaining interests are held by Metgasco Ltd (25 per cent) and Bridgeport (Cooper Basin) Pty Ltd (25 per cent).
This development represents a significant step forward for Vintage Energy in its gas production capabilities and underscores the company’s commitment to safe and efficient operations in the energy sector.
