Join our daily newsletter At The Bell to receive exclusive market insights
- Strike Energy has had to delay operations onsite at its onshore WA Perth Basin Walyering project
- The company reported bad weather and materials shortages as causing delays
- Project partner Talon Energy holds a minority 45 per cent interest in the project which could potentially see 33TJ/d of gas produced
- The company announced the actual date at which gas is expected to be produced remains unclear
- STX shares are down 1.7 per cent and trading at 43.3 cents at 3:10 pm AEST
The launch of WA-based domestic gas explorer Strike Energy’s (STX) Perth Basin EP447 project will be delayed further into Q3.
The project delay is in part due to bad weather and materials shortages the company announced today.
The ultimate deadline investors are most interested in – the delivery date for gas to start flowing – remains undisclosed.
The engineering plan behind the Walyering project sees Strike targeting onshore acreage believed to host significant commercial hydrocarbon deposits underground, with the potential to extract up to 33 terajoules of gas per day.
The project partner, Talon Energy (TPD), holds a 45 per cent interest in Walyering whereas Strike acts as the operator with its 55 per cent holding.
STX shares were down 1.7 per cent and trading at 43.3 cents at 3:10 pm AEST.
