Strike Energy Announces Independent Certification of Walyering Reserves

Source: 7/21/2022, Location: Not categorized

Strike Energy has released the maiden independently certified Reserves & Resources report for the Walyering gas field procured for the EP447 JV (Strike operator and owner of 55% equity interest, Talon Energy 45%).

Walyering Gas Field Reserves & Resources

RISC Advisory (RISC) have estimated gross 2P gas reserves of 54 PJ (30 PJ net to Strike) and 0.55 mmbbls of associated condensate (0.30 mmbbls net to Strike), which supports the progression of the Walyering gas field into development and construction and recognises the success of the drilling, appraisal, and development programme to date.

RISC has recognised growth potential in the Walyering gas field with a further gross 2C Contingent Resource of 32 PJ and 0.31 mmbbls of associate condensate (18 PJ and 0.17 mmbbls net to Strike) and 16 PJ of gas and 0.16 mmbbls of condensate of gross 2U Prospective Resources (9 PJ and 0.09 mmbbls net to Strike) in undrilled or untested compartments / reservoirs of the Walyering gas field’s Cattamarra Sands.

The RISC Reserves and Resources report is based on the drilling, coring, log, seismic and production testing data from both the Cattamarra Sands and the Cadda Formations exploration and appraisal wells drilled throughout the field.

Walyering Gas Field Development

Strike intends to shortly engage with the EP447 JV to contemplate a final investment decision given the proposed development has successfully passed through its primary environmental review process. The investment decision would consider taking the Walyering gas field into construction and commissioning immediately.

A full field development cost of $14.2m (including contingency) is estimated to complete the existing wells and construct the associated 33 mmscf/d (up to 37 TJ/d) and 1,400 bbls of condensate storage and offloading upstream infrastructure, which would be tied into the Parmelia Gas Pipeline and or the Dampier to Bunbury Natural Gas Pipeline. Momentum Engineering is currently finalising the detailed design for the upstream plant and pipeline tie in. Gas contracting processes for the ramp up/ commissioning gas and firm supply contracts are expected to complete in Q3/4 CY22 with positive responses from Strike’s tender process received to date.

Gulf Oil and Gas
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