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- Galilee Energy (GLL) secures a rig for the upcoming drilling program at the Glenaras multi-well pilot in Queensland
- Following a successful $11.8 million capital raising, the company has now signed a drilling contract with Silver City for Rig 23
- All landowner and environmental approvals have been received for the new well locations and civil construction works are progressing with lease pads now under construction
- Drilling at the site is expected to commence in mid-April for five new vertical production wells
- On the market, Galilee was down 6.45 per cent and trading at 29 cents
Galilee Energy (GLL) have secured a rig for its planned coal seam gas drilling program at the Glenaras multi-well pilot in Queensland’s Galilee Basin.
Following a successful $11.8 million capital raising, the company has now signed a drilling contract with Silver City for Rig 23.
All landowner and environmental approvals have been received for the new well locations and civil construction works are progressing with lease pads now under construction.
Drilling at the site is expected to commence in mid-April and planning is underway to construct electrical, gas and water gathering systems for the five new production wells.
Glenaras 16 and 21 wells are back online, following servicing and replacement of surface equipment. The wells are producing an average gas rate of around 50 million standard cubic feet per day, with water pilot production back to around 17,000 barrels of water per day.
“This is an exciting time for Galilee as we prepare to drill these new wells and unlock the significant TCF potential of the Glenaras gas resource,” Managing Director and CEO David Casey said.
“Success at Glenaras will be transformational for Galilee as it seeks to become a material
gas producer in the attractively priced east coast gas markets, creating jobs and investment in regional areas and in meeting the increasing demand for gas as the world transitions to low carbon footprint energy alternatives.”
On the market, Galilee was down 6.45 per cent at 29 cents at the close of trade.
