- Galilee Energy (GLL) is pushing ahead with well workovers at its 100 per cent owned Glenaras multi-well pilot program in Queensland
- The company has completed three out of the targeted six-well workovers as part of its “pump enhancement programme” at its Galilee Basin prospect in hopes of enhancing gas production
- Galilee said “excellent progress” has been made during the rework efforts so far with progress tracking as planned
- The rig related works are expected to finish by mid-May
- Galilee Energy closed the session up a healthy 4.70 per cent to trade at 78 cents per share
Galilee Energy (GLL) is pushing ahead with well workovers at its 100 per cent owned Glenaras multi-well pilot program in Queensland.
The oil and gas company is currently undertaking a “pump enhancement program”, which includes the workover of six vertical wells at its Galilee Basin prospect to enhance gas production.
Galilee said “excellent progress” has been made during the rework efforts so far with progress tracking as planned.
So far, three of the six holes currently being worked on have been completed within budget and with no sediment or fill encountered, meaning no further cleanout activities are required.
The three completed wells are back in production according to Galilee and water production is said to be back to previously reported rates. Looking ahead, the company is targeting a 30 per cent increase in total water production.
These rig related works are set to be finished by mid-May.
Galilee Energy closed the session up a healthy 4.7 per cent to trade at 78 cents per share.