Strike hikes stake in West Erregulla gas project
Jul 20, 2021 2:51:am
Summary The company now owns 54% of the West Erregulla gas project, which is located in Australia s Perth basin.
by: Shardul Sharma
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Strike hikes stake in West Erregulla gas project
Strike Energy has increased its interest in the West Erregulla gas project to 54% via the acquisition of an 8.16% strategic stake in its partner Warrego Energy, it said on July 20. Previously, Strike and Warrego each had a 50% interest in the project.
Strike said the company’s board of directors considered that the increase of a further 4% interest for about A$22mn ($16mn) “represented an attractive transaction to increase its exposure to EP469, and the West Erregulla gas project, which it considers to be valuable assets with significant potential”.
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Strike completes production testing at WE4
Sydney-listed Strike Energy on July 12 said it had completed production testing at West Erregulla 4 (WE4) well in EP469 in Western Australia’s Perth basin.
The company reported a gas flow of 35mn ft
3/day during sustained testing and said that the well confirms the high productivity of Kingia sandstone. WE4 will be now shut in to observe a long-term pressure build-up.
Strike spudded the well in January. It is the second of three appraisal wells in a planned campaign at West Erregulla, discovered in 2019. Strike operates the field with a 50% interest, while partner Warrego Energy also has 50%.
Australia: West Erregulla-4 well flows gas at 35MMscf/d from Kingia reservoir energy-pedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energy-pedia.com Daily Mail and Mail on Sunday newspapers.
6 July 2021 5:07 GMT Updated 6 July 2021 5:10 GMT
Australia s onshore Perth basin will be the subject of a four-well exploration and appraisal drilling campaign in the coming six months in pursuit of significant gas resources.
In announcements today by Norwest Energy and Strike Energy, it was revealed that two operators - Strike Energy and Energy Resources - have contracted the drilling rig Ensign 970 for the programme of wells, starting imminently as the rig is nearing completion of its current assignment with Strike at the West Erregulla-5 well.
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