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Armour Energy Acquires QGC’s Interests in ATP 647

Source: www.gulfoilandgas.com 5/31/2017, Location: Not categorized

Amour Energy Limited has acquired QGC’s interest in ATP 647 on the Roma Shelf, Surat Basin. Armour now holds 100% of ATP 647 which is located immediately to the east of Armour’s PL 227 and its Myall Creek field.

On 3 April 2017 the Company announced independently verified 2P petroleum reserves (net to Armour) of 56.8 PJ of gas, 565 kbbls of condensate and 117 kTonnes of LPG for its Roma Shelf, Surat Basin assets. ATP 647 is immediately adjacent to the Myall Creek field (see map). Of note, the Myall Creek field contains estimated gas reserves of 42.1 BCF (or 44.4PJ), 441 kbbls of condensate and 92 kTonnes of LPG.

With Armour now holding 100% of ATP 647, the business will be able to further expand the mature, but undeveloped, wet gas conventional and tight wet gas plays in Permian and Triassic reservoirs of the Bowen-Surat Basin. The existing Myall Creek East 1 well, located in the southwest corner of block ATP 647, is currently suspended and is considered a candidate for stimulation and potential connection into the Myall Creek field gathering system and compressor station. This will provide Armour with another low cost operation to add to our growing portfolio on the Roma Shelf, and provide it with reserve growth and further production capacity to supply the domestic market.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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