Bass Oil To Review Deep Coal Gas Potential In Cooper Basin

Bass Oil Ltd (ASX: BAS) aims to unlock the potential of a major new gas source in Australia by engaging oil-field services company SLB (formerly Schlumberger).

The collaboration focuses on a deep coal gas commercialisation study within Bass’ wholly-owned PEL 182 license area in the Cooper Basin.

Bass Oil achieved record revenue of US$6.56 million in 2023, up 14.6% compared to 2022.

The oil & gas producer’s net profit rose 575% to US$0.27 million, driven by increased oil sales.

Permian coals hold promise

The deep Permian aged coals have previously been recognised to potentially be a major new source of gas in Australia.

The gas in these Permian aged coals has flowed at potentially commercial rates following fracture stimulation.

SLB will be utilising its proprietary tools along with seismic assessment techniques to interpret, de-risk and test the commercial viability of the play.

Stimulation strategies to maximise recovery

SLB’s engagement, commencing immediately, comprises two key phases:

  • Geomechanical Study: This phase optimises well design and fracture stimulation strategies to maximise recovery from this potentially vast gas resource.
  • Rapid Resource Assessment (RRA): Integrating geological data from existing wells and available seismic information, the RRA will prioritise prospective areas for cost-effective extraction.

Phase 1, the geomechanical study, is targeted for completion by mid-year, with the RRA expected to be finalised by September 2024.

 

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